Red Lobster has emerged from bankruptcy with a new strategic direction, led by a Nigerian American CEO, Damola Adamolekun.

In a recent discussion, Adamolekun shared insights on how he took over the company, the challenges it faced, and his vision for its future.

Adamolekun, known for his success in turning around PF Chang’s, was initially brought in as a consultant by Fortress Investment Group, one of Red Lobster’s creditors set to take ownership post-bankruptcy.

Adamolekun expertise in managing distressed businesses led Fortress to offer him the CEO role.

“We presented a plan, and they liked it,” Adamolekun said. “So I took over as CEO coming out of bankruptcy in September and that’s what we’ve been working on.”

A key topic of discussion was whether Red Lobster should pivot to a fast-casual model, similar to Chipotle.

While Adamolekun acknowledged the need for speed and convenience, he pointed out the structural challenges of such a shift.

“Our restaurants are 9,000 to 10,000 square feet, while Chipotle locations are around 1,500 to 2,000 square feet. You can’t sustain that kind of real estate footprint on Chipotle-level revenue,” he explained. “Plus, we serve premium seafood like lobster and crab, which you can’t sell at Chipotle prices.”

However, he emphasized the importance of adopting fast-casual efficiencies, particularly in delivery, digital operations, and service speed. “Those are things people care about, and we can improve on them,” he added.

He said Red Lobster was the first company to take high end seafood products across the U.S.

“It was the first place you could get lobster, get crab. For a lot of people, it’s their first experience,” he pointed out.

As Red Lobster navigates its post-bankruptcy phase, Adamolekun’s focus remains on balancing cost structure with consumer demand while maintaining the brand’s identity.

His leadership will be key in steering the company toward sustainable growth.

Red Lobster is a casual dining restaurant chain that serves seafood in the United States of America.

The first Red Lobster opened in Lakeland, Florida, in 1968.