Hooters Could Be the Next Big Chain to File for Bankruptcy | Eater
"The long-running breastaurant chain has reportedly engaged law firm Ropes & Gray to prepare a possible bankruptcy filing amid reports (September 2024) of roughly $300 million in debt and falling revenue. It closed dozens of underperforming stores in summer 2024 even as it launched a frozen-food line in June 2024 and touted expansion into new markets, framing its 41-year history as evidence of resilience. Industry observers point to an aging, controversial image—where emphasis has often been on servers’ appearance rather than the food—and stronger, fresher competitors as key contributors to its recent struggles." - Bettina Makalintal
