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International Business Times

Business

Luke Funk

Bankrupt Restaurant Chain Red Lobster Names Post-Takeover CEO

Red Lobster Damola Adamolekun

Damola Adamolekun, CEO of RL Investor Holdings LLC, a new entity that is seeking bankruptcy court approval to acquire from Red Lobster (Credit: Business Wire)

Struggling restaurant chain Red Lobster is set to name a new CEO after the chain's sale.

Damola Adamolekun, who recently headed up P.F Chang's, will be named after a court approves the sale to a group of lenders of the bankrupt seafood chain. The news was first reported by the Wall Street Journal.

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