"Red Lobster's Crabfest is the ultimate summer dining experience, featuring exciting and flavorful dishes like our new Seafood Boils," said Chief Marketing Officer Nichole Robillard1. The menu also includes crab-topped appetizers, premium sides and three new cocktails, including the Purple Haze by Dre & Snoop2.

The launch represents a dramatic turnaround for the Orlando-based chain, which filed for Chapter 11 bankruptcy protection in May 2024 after years of mounting losses and the disastrous "Endless Shrimp" promotion34. The $20 deal, designed to boost traffic, instead created "chaos" as customers stayed for hours, straining kitchens and servers while the company lost money on each meal5.

Red Lobster successfully exited bankruptcy in September 2024 under new ownership by RL Investor Holdings, led by asset manager Fortress12. The restructuring reduced the chain from 578 to 544 locations and installed 35-year-old Damola Adamolekun, former CEO of P.F. Chang's, as chief executive13.

Adamolekun, who called the endless shrimp promotion a "failure," has focused on simplifying operations and reducing the menu45. The company received more than $60 million in new funding as part of the restructuring plan2.

The bankruptcy filing blamed previous ownership by Thai Union Group, which interfered with operations and pushed costly promotions while the chain struggled against competitors offering fresher, faster options67. Red Lobster lost $76 million in 2023 alone1.

The seafood chain, established in 1968, had long been considered America's top seafood restaurant before recent struggles1. Adamolekun said the company plans no additional closures while investing in technology and infrastructure improvements2.

"This is a wonderful day for Red Lobster," Adamolekun said after exiting bankruptcy. "With our new investors, we have developed a comprehensive and long-term investment plan aimed at revitalizing this iconic brand while honoring its rich history"3.