Red Lobster has a new CEO — Damola Adamolekun and is currently in the middle of a $60 million renovation menu refresh.

After a Chapter 11 bankruptcy filing earlier this year, Red Lobster now finds itself with a new Chief Executive Officer (currently Damola Adamolekun) and difficult choices post-bankruptcy. Now, the casual dining seafood chain—with financial woes and operational challenges in its rearview mirror—is plotting a bold trajectory to re-enter one of the restaurant industry's most competitive arenas.

On the flip side, for Red Lobster, the $20 Endless Shrimp was a terrible sin and made such large operating losses that it led to a Chapter 11 filing. CEO Adamolekun not only conceded his mistake but others the company faced as well. He said it was important to bring back the brand to its past stature in order for the company to survive in the future.

Red Lobster has launched a $60 million renovation project to restore all of its restaurant locations under Adamolekun's supervision. That encompasses things like tasteful renovations, infrastructure repairs, and everything from sea scallops stuffed with bacon to a lobster pasta on the menu. This aims to create a better dining experience for the customers.

As part of the vision, Adamolekun intends to balance this by actually bringing down the prices on the menu so that clients get, “best lobster for the best price.” Knowing that this strategy revolves more on the commercial aspect as opposed to the satisfiers of the consumers, he believes these modifications will enhance the image and profits of the brand.

As of now, Red Lobster has 545 operating units across the country within its portfolio.