One of America’s most popular restaurants is exiting bankruptcy
Red Lobster is headed out of bankruptcy.
CBS News reports that a U.S. bankruptcy judge has approved the seafood chain’s reorganization plan nearly four months after it filed for bankruptcy protection.
When Red Lobster filed for bankruptcy last year, the plan was to “simplify” the business by closing numerous locations. CBS News reports the chain lost $76 million in 2023. Leading up to bankruptcy, Red Lobster closed dozens of locations, including some in Alabama.
Red Lobster’s new CEO Damola Adamolekun has already implemented plans to turn the company around. Among those plans– ending the “bottomless” entrees, including “All You Can Eat” shrimp.
Other items on the agenda, reports Newsweek: improved hospitality, remodeled venues, and a revamped menu.
Another change: a revisioned Crabfest. This year, the seafood restaurant chain is introducing all-new seafood boils to the lineup.
In a press release, Red Lobster said this year’s Crabfest lineup is packed with “exciting new flavors,” and customers can choose between two options:
- Mariner’s Boil: Features a Maine lobster tail, a dozen shrimp, snow crab legs, corn and red potatoes
- Sailor’s Boil: Features a mix of shrimp, smoked sausage, and corn
“Red Lobster’s Crabfest is the ultimate summer dining experience, featuring exciting and flavorful dishes like our new Seafood Boils,” said Nichole Robillard, Chief Marketing Officer of Red Lobster, in the news release. “Whether you’re a longtime Red Lobster lover or participating in Crabfest for the first time, we’ve got something to bring everyone joy.”
Crabfest is available for a limited time, from June 23 through Sept. 14.