Illinois Public Media
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16th July 2025
Red Lobster CEO Damola Adamolekun on cultural significance of the chain and revamping strategies after facing bankruptcy | Illinois Public Media
Founded in 1968, Red Lobster once had more than 600 locations across the U.S., Canada, and overseas franchises. But last year, the $2 billion revenue company went into bankruptcy, reorganized, and came out with new ownership and new leadership.
The company has sought to revamp operations, make changes to its menu, and close a few locations. According to USA Today, five Illinois Red Lobsters have closed — including in Bourbonnais, Danville, and Peoria.
All these changes are being led by the co...