27
Aug
Red Lobster has a new leader to right the company following its recent bankruptcy.Damola Adamolekun, the former CEO at Asian-fusion restaurant chain P.F. Chang's, has been appointed Red Lobster's new CEO to guide the company through its restructuring process, a consortium of investors said Monday.Red Lobster filed for Chapter 11 bankruptcy in May, after accruing over $1 billion in debt. The company faced a series of setbacks, including rising costs and shifting consumer preferences, Business Insider wrote in May.The restaurant's previous owner, Thai Union Group, said it would exit the company, citing significant financial losses. The group had initially acquired…