businessneutral
The Shrimp Promotion That Sank a Restaurant Empire
Saturday, October 5, 2024
New CEO Damola Adamolekun, a 35-year-old Harvard Business School graduate with experience at PF Changs, is stepping in to fix the mess. He plans to simplify the menu and invest in infrastructure, technology, and even chairs—a task that will take time given the sheer number of restaurants involved. Adamolekun doesn't see his age as a hindrance; he credits his experience and character for landing him the job.
Before the bankruptcy scare, Red Lobster was founded in 1968 and became famous for its Cheddar Bay Biscuits. In an interesting twist, former Public Enemy star Flavor Flav tried to save the chain by ordering the entire menu for his family. While his effort is commendable, it's clear that Red Lobster needs more than just a rapper's support to bounce back from this shrimp-induced crisis.
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