‘We inherited a very damaged brand’: Red Lobster CEO says the seafood chain could kill more locations and menu items to stay afloat

Red Lobster’s millennial CEO is charting a future for the beleaguered seafood chain in shallower waters: Damola Adamolekun, 37, said that shrinking the restaurant’s footprint and slimming down menus will be key to the company’s success. 

This comes after years of challenges for the seafood chain, which filed for bankruptcy and was forced to close dozens of restaurants to improve its bottom line. But Adamolekun, who also helped usher in a recovery for Asian-fusion chain P.F. Chang’s, isn’t afraid of a challenge.

“I think this can be the greatest comeback in the history of the restaurant industry,” he told Fortune’s Ruth Umoh in a late 2025 CEO Playbook vodcast. “To lead that would be a once-in-a-lifetime opportunity.”

To help achieve the turnaround Adamolekun envisions, it requires trimming the fat. The CEO told the Wall Street Journal in an interview published Tuesday that the company is reviewing its real estate footprint and leases in order t...