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Offline 240B

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Hugely popular themed restaurant chain on brink of bankruptcy - sparking fears of mass closures
« on: February 21, 2025, 11:24:26 am »

Hugely popular themed restaurant chain on brink of bankruptcy - sparking fears of mass closures

Daily Mail
By DANIEL JONES
21 February 2025



Hooters - known for its scantily-clad waitresses - is preparing to file for bankruptcy, becoming the latest American restaurant chain facing financial problems.

The US arm of the chain is preparing to restructure through Chapter 11 in the coming months, sources familiar with the matter told Bloomberg News this morning.

Hooters has enlisted law firm Ropes & Gray to assist with the filing, expected within two months, the sources said.

Like other struggling chains such as Red Lobster - which filed for bankruptcy in the summer -  Hooters is blaming the rising cost of rent and food and customers eating out less.

In the fall it emerged that bosses at the 42-year-old chain were in urgent talks with lenders and advisers as the popular chain tried to address $300 million of debts.

It came after Hooters shuttered around 40 'underperforming' restaurants in June, including locations Florida, Kentucky, Rhode Island, Texas and Virginia as it bid to cut costs.

And only this week the chain shuttered one of its family-friendly Hoots Wings by Hooters spin-off restaurants, leaving just three. The concept launched in 2017 in Chicago sees diners order at a counter rather than at their tables.

But Hoot Wings' biggest difference is its staff - both male and female servers wear regular, non-revealing outfits at the counter-service restaurant.

(more)
https://www.dailymail.co.uk/yourmoney/consumer/article-14421723/hooters-brink-bankruptcy-filing-restaurant-closure-fears.html
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Offline Hoodat

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Re: Hugely popular themed restaurant chain on brink of bankruptcy - sparking fears of mass closures
« Reply #1 on: February 21, 2025, 11:29:30 am »
This is how the 2008 meltdown began.  First, Bennigans declared bankruptcy, then Wall Street followed.
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Offline DefiantMassRINO

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Re: Hugely popular themed restaurant chain on brink of bankruptcy - sparking fears of mass closures
« Reply #2 on: February 21, 2025, 11:58:44 am »
If an American enterprise based upon bosoms can fail, is any business sector safe?

Is there any chance Hooters is too big to fail?


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Online Smokin Joe

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Re: Hugely popular themed restaurant chain on brink of bankruptcy - sparking fears of mass closures
« Reply #3 on: February 21, 2025, 12:02:34 pm »
That's one outfit I have trouble envisioning flat busted...
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Online bigheadfred

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Re: Hugely popular themed restaurant chain on brink of bankruptcy - sparking fears of mass closures
« Reply #4 on: February 21, 2025, 12:19:26 pm »
 888mouth
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Offline Hoodat

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Re: Hugely popular themed restaurant chain on brink of bankruptcy - sparking fears of mass closures
« Reply #5 on: February 21, 2025, 12:25:19 pm »
Quote from: Smokin Joe on February 21, 2025, 12:02:34 pm
That's one outfit I have trouble envisioning flat busted...

DEI did them in.

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If a political party does not have its foundation in the determination to advance a cause that is right and that is moral, then it is not a political party; it is merely a conspiracy to seize power.     -Dwight Eisenhower-

"The [U.S.] Constitution is a limitation on the government, not on private individuals ... it does not prescribe the conduct of private individuals, only the conduct of the government ... it is not a charter for government power, but a charter of the citizen's protection against the government."     -Ayn Rand-

Offline Wingnut

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Re: Hugely popular themed restaurant chain on brink of bankruptcy - sparking fears of mass closures
« Reply #6 on: February 21, 2025, 12:47:35 pm »
This stunted development saddens Wingnut.
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Offline 240B

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Re: Hugely popular themed restaurant chain on brink of bankruptcy - sparking fears of mass closures
« Reply #7 on: February 22, 2025, 07:18:18 am »
Hooters is filing for bankruptcy. It's so buffling. I can't figure out why.
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You cannot "COEXIST" with people who want to kill you.
If they kill their own with no conscience, there is nothing to stop them from killing you.
Rational fear and anger at vicious murderous Islamic terrorists is the same as irrational antisemitism, according to the Leftists

Offline Gefn

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Re: Hugely popular themed restaurant chain on brink of bankruptcy - sparking fears of mass closures
« Reply #8 on: February 22, 2025, 07:34:17 am »
I ate there once about 20 years ago. Food was mediocre, although the wings were nice.

I met someone there for a first date. Disaster - a red flag was him picking this place out and not a diner, or a coffee shop.

But in all honesty, a lot of chain restaurants are closing stores. Denny’s is shutting down places and I saw that Pizza Hut is also closing underperforming stores too. It seems like restaurants and clothing stores are really struggling right now
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