Red Lobster CEO Damola Admulekan has a lot to say about the seafood chain he’s trying to revive — especially after the debacle of his never-ending shrimp. And recently she also revealed her favorite menu item.
It used to be snow crab, but now it’s the restaurant’s new take on the menu item.
“I recently tried the beardie crab, which is a variation on the snow crab, and it’s my new favorite,” Admolkin said in an interview. The Wall Street Journal which was published early Monday.
Beardy crab legs are wild-caught and sourced “directly from the ice-cold waters of the Bering Sea,” according to Red Lobster, and offer a sweeter, sweeter flavor than snow crab legs.
Photo courtesy of Red Lobster
Adamolekun knows the menu in and out. He had earlier said that he frequented the restaurant chain even before being named CEO. WSJ. He will reportedly talk to employees and customers to figure out if it’s worth diving into a leadership position at Red Lobster.
In an effort to turn a sinking ship around, America’s beloved seafood chain filed for bankruptcy in May. The company had lost its marine legs, closing dozens of locations across the U.S. after incurring millions in operating losses.
But now, a new CEO is breathing new life into Red Lobster, which he calls “without exaggeration, one of the most important companies in American history.” Its $70 million turnaround plan, financed by Fortress Investment Group, addresses some of the seafood chain’s shortcomings, including aging restaurant interiors, but one thing in particular involved Edmulkin. Done: menu.
Admulkin, who previously served as CEO of Asian fusion chain PF Chang’s, is relying on new menu items to help Red Lobster emerge stronger after bankruptcy — but also on a smaller menu. are doing He told today Menu items will be down a net 20 percent, but the company also introduced new dishes like bacon-wrapped sea scallops, lobster bisque, lobster pappardelle pasta, grilled fish, and Parmesan-crusted chicken.
Adamolekun also wants to improve the layout and overall look of the menu itself to help customers find the best deals.
“If you say, ‘Where’s the price on this menu?’, you have to look for it,” he said in his latest. WSJ Interview “So there are things you can do, in terms of reducing the number of objects, but just in terms of layout, aesthetics, photography.”
Red Lobster didn’t immediately respond. good luckRequest more comment Adamolekun has been paying close attention to the menu, especially since a now-discontinued item plunged the company into financial ruin.
How the Endless Crab Tanked the Red Lobster
While not entirely to blame for Red Lobster’s financial woes, a promotion offered by the restaurant served as the nail in the coffin. The endless shrimp promo proved wildly popular with patrons, but made almost no financial sense for Red Lobster.
In fact, the company lost millions from the promotion, which allowed consumers to eat bottomless shrimp for just $20. Videos on social media platforms show consumers taking advantage of the promo, sometimes inhaling more than 100 shrimp in one sitting.
@ugh_madison I could only stay 4 and a half hours but I think I got $27 worth. I wish I had 2 crab cakes and 3 lemon drops to go with my red lobster bottomless shrimp! #redlobster #champion ♬ Original Voice – ugh madison
According to the International Monetary Fund, the average global price of shrimp is about $8 per kilogram, and according to Novin Seafood, a kilogram of shrimp contains about 30 to 40 shrimp. That means patrons gorging themselves on shrimp hurt Red Lobster, which originally pitched the promo as a way to get customers back in the door.
But Admolkin says the ship has gone on an endless shrimp promo and will never return.
It’s “because I know how to do math,” Admulkin explained today In a recent interview.
Turning the Red Lobster
Admulekin is in charge of Red Lobster’s rebound, and it’s no small feat since more than 500 locations are still open. In addition to making menu changes, he is also dedicated to improving the restaurant experience, starting with the location’s interior.
The first step in fixing up Red Lobster locations is fixing problems that should have been fixed years ago, like broken HVAC units, cracked tiles, and faulty kitchen equipment and furniture, Admulikan said. WSJ. Second, he will focus on how to “inject energy into the restaurant” by changing the music and lighting.
He said that the third phase of improvement will be the complete reconstruction of the restaurants. It’s a task he had experience with, having overseen the remodeling of PF Chang’s entire fleet of restaurants. Each PF Chang’s location costs about $300,000 to $400,000 per restaurant to remodel, but the changes have increased sales by 5% to 10%, Admolkin said. WSJ. So far, only three Red Lobster locations have received the full upgrade. WSJ.
He is also undertaking his second mission of updating his C-suite. Over the past few months, it has appointed a new Chief Marketing Officer, Chief Financial Officer, and Chief Operating Officer. In addition to these veterans of the restaurant industry, Admulikan should turn the tide at Red Lobster.
“It’s a challenged industry, right? But I took over PF Chang during COVID,” Admulkin said. WSJ. “I’m used to getting into hard times.”
