100 money-losing Red Lobsters are eating all the profit

Red Lobster's new CEO, Damola Adamolekun, has appeared on morning shows, gone viral on TikTok (9 million views on one commercial), and earned glowing profiles in the business press. Meanwhile, behind the PR blitz, Bloomberg reports the chain has lost money in four of the last five quarters, and sales remain at least 20% below pre-bankruptcy levels. — Read the rest The post 100 money-losing Red Lobsters are eating all the profit appeared first on Boing Boing.