Hooters of America, the iconic casual dining chain known for its wings and scantily clad waitresses, is reportedly on the brink of bankruptcy after accumulating a hefty $300 million debt.
As of late February 2025, the company is working with law firm Ropes & Gray and turnaround advisors from Accordion Partners to prepare for a potential Chapter 11 filing, expected within the next couple of months if plans proceed.
This follows a tough period marked by declining foot traffic, rising costs for food and rent, and the closure of around 40 underperforming locations in 2024 across states like Florida, Kentucky, and Texas.
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