Purple Lobster’s millennial CEO is charting a future for the beforehand beleaguered seafood chain in shallower waters: Damola Adamolekun, 37, mentioned that shrinking the restaurant’s footprint and slimming down menus shall be key to the corporate’s success.
This comes after years of challenges for the seafood chain, which filed for chapter and was pressured to shut dozens of eating places to enhance its backside line. However Adamolekun, who additionally helped usher in a restoration for Asian-fusion chain P.F. Chang’s, isn’t afraid of a problem.
“I think this can be the greatest comeback in the history of the restaurant industry,” he instructed Fortune’s Ruth Umoh in late 2025 interview within the CEO Playbook vodcast. “To lead that would be a once-in-a-lifetime opportunity.”
To assist obtain the turnaround Adamolekun envisions, it requires trimming the fats. The CEO instructed The Wall Road Journal in an interview printed Tuesday that the corporate is reviewing its real-estate footprint and leases so as to lower prices to save lots of the corporate’s backside line.
“There’s a lot of positive signs, but we inherited a very damaged brand, so there’s still work to do to repair all of that,” Adamolekun mentioned. The intense aspect he’s referring to is site visitors to Purple Lobster elevated 6.5% in October, and Adamolekun instructed WSJ gross sales are up 10% from final 12 months.
Purple Lobster’s push mirrors a broader development throughout U.S. informal eating, the place manufacturers like Olive Backyard, Chili’s, and Applebee’s have pared again their menus and streamlined operations. Business analysts say smaller footprints and easier menus may help operators handle greater labor and seafood prices whereas interesting to youthful, value-conscious diners.
“In 2025, the most successful restaurants aren’t chasing trends for the sake of it,” in response to hospitality trade consulting and tech agency Barmetrix. “They’re solving problems with systems—using automation, smarter menus, loyalty strategies, and new models that match the way guests actually want to eat.”
Adamolekun’s turnaround efforts helped Purple Lobster claw its method out of chapter, however now it’s time for enchancment mode.
“Some people refuse to set ambitious goals because they’re terrified of failure,” he instructed Fortune’s Umoh. “I’m not afraid of that. I don’t mind setting really high goals, and I don’t mind going after difficult things. You do your best and try to win.”
Damola Adamolekun’s turnaround imaginative and prescient
Whereas Adamolekun is assured he can flip the ship round, he acknowledges he inherited a model tormented by excessive prices and operational woes.
Much like his comeback playbook for P.F. Chang’s, Adamolekun is laser-focused on shattering inefficiencies at Purple Lobster. This follows Fortress Funding Group’s acquisition, which injected $60 million into revitalization efforts equivalent to menu tweaks and restaurant refreshes. Purple Lobster’s fiscal outlook is already brightening below Adamolekun’s management, with the chain projecting a constructive internet revenue of $2.1 million by fiscal 2026, marking a turnaround from years of losses.
He mentioned he’d by no means convey again the endless-shrimp promotion, one among many components that propelled Purple Lobster out of business within the first place.
He instructed At present he’d by no means convey it again “because I know how to do math.” Whereas the $20 infinite shrimp deal made fairly a splash with prospects, the corporate reportedly suffered tens of millions in working losses.
To assist make up for these losses, the chain should cut back prices by scrutinizing leases and streamlining operations, which may imply extra areas shut. At the moment, the restaurant chain operates about 550 areas, down from 700 a number of years in the past. The corporate has additionally laid off some location managers and about 10% of its company employees, the WSJ reported.
Other than layoffs and cost-cutting, Adamolekun additionally plans to present Purple Lobster a facelift by enhancing the restaurant’s ambiance, refreshing its menu, and transforming its eating places. He additionally mentioned he needs to decrease costs for patrons going through an affordability disaster.
“We should be the best deal for the best lobster because we do have the best product,” Adamolekun instructed At present.
