After receiving court approval for its restructuring plan to continue operating under a new firm, Red Lobster has announced that it’s revamping its menu and getting rid of the one deal that drove it into bankruptcy.
The popular seafood chain has been acquired by RL Investor Holdings LLC — an “entity created by funds managed by affiliates of Fortress Investment Group LLC” — alongside co-investors TCW Private Credit and Blue Torch, the company announced in a September press release. As part of the acquisition, which closed before the end of September, Damola Adamolekun, the former CEO of P.F. Chang’s, took over as the company's CEO, succeeding Jonathan Tibus.
In an exclusive interview with Today, Adamolekun told Savannah Sellers that Red Lobster’s menu will include seven new items and re-introduce two fan-favorite dishes. “Relevant, compelling and exciting is what we want Red Lobster to be for the future, and so we’re working on that now,” Adamolekun said.
The new items include Lobster Pappardelle, Pasta Bacon Wrapped Sea Scallops, Lobster Bisque, Lemon Basil Mahi, Simply Prepared Mahi, Parmesan-Crusted Chicken and Roasted Asparagus. Red Lobster is also bringing back its hush puppies, which hasn’t been on the restaurant’s menu for several years. “There was a social media riot over us taking off the hush puppies a few years ago. So that is coming back,” Adamolekun said.
Popcorn shrimp is also slated to make its grand return. “I expect a stampede into our restaurants because we’re bringing back the hush puppies,” Adamolekun quipped.
Additionally, Red Lobster tweaked its tartar sauce recipe following complaints from several fans on TikTok. “It’s being fixed. I hear you, TikTok. ... It’s going to be a better version, in my estimation, because we did try the old one and this new one, this new one’s better,” Adamolekun said.
Lobsterfest, in which an array of special lobster dishes and sides and cocktails are served for a limited time only, will also continue to be a major showcase. “This year we want to make (Lobsterfest) bigger and better than ever. You know what we’re calling it? The GLOAT: the greatest lobster fest of all time,” Adamolekun told the outlet.
Despite the new happenings, Red Lobster is getting rid of its famed promotion: Ultimate Endless Shrimp. The limited-time deal, which has been around for 20 years, was cited as the restaurant’s source of downfall. Red Lobster’s top shareholder, Thai Union, a producer of seafood-based products, took advantage of the promotion, ultimately costing Red Lobster a whopping $11 million.
Adamolekun said the decision to lose the Ultimate Endless Shrimp deal was easy “because I know how to do math.” That being said, the deal isn’t gone for good and could come back in the future.
Despite the losses, Red Lobster still celebrated a few wins. Red Lobster saw a traffic increase of 2% compared to last quarter, and 4% compared to the previous year, CNN reported in November of last year.
In the wake of Red Lobster filing for bankruptcy, Public Enemy rapper Flavor Flav shared that he visited a restaurant location and ordered everything on the menu in an attempt to save the chain’s business.
“Ya boy meant it when I said I was gonna do anything and everything to help @redlobster and save the cheddar bay biscuits,,, ordered the whole menu,!!!” Flavor Flav wrote alongside a photo of himself posing in front of a spread of Red Lobster menu items like shrimp scampi, popcorn shrimp and clam chowder — just to name a few.
