Red Lobster is turning to millennial leadership to bring in younger guests, which the chain needs after closing more than 100 of its 640 restaurants earlier this year.
Red Lobster has since emerged from bankruptcy, ushering in a new era for the once-major seafood chain.
But the deal was costly for Red Lobster — the company lost $11 million from that promotion alone, according to court documents.
Thai Union announced in January that it would begin a complete exit from Red Lobster.
Now, Red Lobster is trying to balance keeping its loyal customers while trying to shake its stodgy image to attract younger ones.
Persons:
who's, Adamolekun, Hottovy, Read, Jim Salera, Fortress, Caitlin Daniel, isn't
Organizations:
Fortress Investment, NBC, Stephens, Thai Union, Harvard University
Locations:
Placer.ai