Red Lobster is closing more restaurants across the country this week. In a bankruptcy filing, the seafood chain said it is rejecting the leases of 23 locations that it has deemed to be a drain on its finances.
Also on Monday, the investment group on track to acquire Red Lobster out of bankruptcy named a CEO to lead the chain. Damola Adamolekun was previously the CEO of P.F. Chang’s from 2019 to 2023.
Starbucks will pay up to $250,000 a year for incoming CEO Brian Niccol to commute via private jet from Newport Beach to Seattle. To sweeten the deal for Niccol to make the jump from Chipotle to Starbucks, the company promised Niccol that he did not have to permanently move to Seattle. But, according to his offer letter, he will need to acquire secondary housing in Starbucks’ hometown, and he will have to regularly make the 1,200-mile commute from Newport Beach using Starbucks’ private aircraft.
The parent of Outback Steakhouse has named a Delta Air Lines executive as its new CEO. Bloomin’ Brands on Monday announced that it is hiring Michael Spanos to replace outgoing leader Dave Deno.
Get all the headlines in today’s Restaurant Daily podcast.
