Damola Adamolekun projects Red Lobster will achieve profitability by fiscal 2026 after the company emerged from bankruptcy under his leadership. The 36-year-old executive told Fortune that adjusted earnings before interest, taxes, depreciation, and amortization should increase 43 percent between 2025 and 2027. Adamolekun previously served as chief executive of P.F. Chang's, where he guided the restaurant chain to billion-dollar revenues following pandemic-related challenges.
Red Lobster filed for bankruptcy protection after financial losses stemming from promotional campaigns and operational difficulties. Adamolekun described the turnaround effort as potentially the most significant recovery in restaurant industry history. The seafood chain requires disciplined management and strategic execution to restore financial stability, according to the executive.
Red Lobster filed for bankruptcy protection after financial losses stemming from promotional campaigns and operational difficulties. Adamolekun described the turnaround effort as potentially the most significant recovery in restaurant industry history. The seafood chain requires disciplined management and strategic execution to restore financial stability, according to the executive.
