Hooters

Hooters Files for Chapter 11 Bankruptcy in Texas | Eater Dallas

"Filed for Chapter 11 bankruptcy protection on March 31 in the North Texas Bankruptcy Court in Dallas as part of an effort to resolve roughly $376 million in debt; the founders' group (HMC Hospitality Group) is teaming with investors to buy back most restaurants from a private equity firm, and the founders already own about one-third of locations, including half of its highest-volume sites. The chain closed 44 restaurants in summer 2024 and has published a customer-facing FAQ reassuring patrons that it is not going out of business and that product offerings will remain the same; once restructuring is complete, remaining locations will be converted to franchises. Leadership has signaled a shift back toward a more family-friendly atmosphere, and analysts attribute recent revenue pressures to rising menu costs, supply-chain issues, and inflation tightening consumer budgets." - Courtney E. Smith