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The company announced on Monday, Sept. 16 that it's been acquired by lender group RL Investor Holdings with $60 million in new funding backed by Fortress Investment Group.
Damola Adamolekun, former chief executive officer at Asian fusion casual dining chain P.F. Chang’s, is now running Red Lobster.
The move comes after the chain, founded in 1968, abruptly closed dozens of locations earlier this year. It still has 544 locations across 44 US states and four provinces in Canada.
"Red Lobster has a tremendous future, and I cannot wait to get started on our plan with the Company’s more than 30,000 team members across the USA and Canada," the 35-year-old Adamolekun said on Monday.
This continues to be a developing story. Check back to Daily Voice for updates.
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