Story perspectives

Red Lobster Revives Shrimp Deal Amid Financial Challenges

4/2/2026

Summary

Story summary

Red Lobster plans to revive its endless shrimp deal as a limited-time offer.
Fortress Investment Group owns Red Lobster, which emerged from bankruptcy in September 2024.
CEO Damola Adamolekun has implemented changes, including a 20% reduction in the menu.
Red Lobster is exploring retail sales of branded products.
The company forecasts nearly a $52 million loss for 2025 and faces expensive long-term leases that may force closing underperforming locations.

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Story summary

Red Lobster plans to revive its endless shrimp deal as a limited-time offer.
Fortress Investment Group owns Red Lobster, which emerged from bankruptcy in September 2024.
CEO Damola Adamolekun has implemented changes, including a 20% reduction in the menu.
Red Lobster is exploring retail sales of branded products.
The company forecasts nearly a $52 million loss for 2025 and faces expensive long-term leases that may force closing underperforming locations.