Hooters known for his scarce clad waitress-serving on Monday evening bankruptcy.
It is the newest American restaurant chain with financial problems. But despite the submission and $ 376 million in debt, the 42-year-old brand insists that it is not going anywhere.
The American arm of the chain is restructuring by chapter 11. As part of the restructuring, Hooters is planning to sell more than 100 restaurants in the company to two franchise groups that are currently operating locations in Tampa, Florida and Chicago.
Together these groups already manage about a third of the franchise-haooters locations in the US, the company said.
Hooters, founded in 1983, became famous for his chicken wings and the uniform of the servers of Oranje Shorts and low -cut tank tops.
The buyer group is supported by some of the original founders of Hooters, and he promised to bring Hooters back to his roots. '
“With more than 30 years of practical experience in the Hooters ecosystem, we have a profound understanding of our customers and what is needed not only to meet, but consistently exceed their expectations,” said Neil Kiefer, a member of the buyer group and the current CEO of the original Hooters location in Clearwater, Florida.
Hooters said it expected to complete the deal and to get out of bankruptcy within three to four months.
It is not clear whether other restaurants will be closed. Hooters currently owns and operates 151 locations, with a further 154 restaurants managed by franchisees, mainly in the United States.
Just like other struggling chains such as Red Lobster – who applied for bankruptcy in the summer – Hooters blames the rising costs of rent and food and customers who eat less.
Hooters closed around 40 'under -performing' restaurants in June, including locations Florida, Kentucky, Rhode Island, Texas and Virginia while offering to save costs. A bankruptcy would probably lead to more closures of the 300 remaining locations.
The necklace is known for its scarce clad waitresses
Hooters recently closed around 40 restaurants
Golf influenced Paige Spiranac joked on X: 'Not on My Watch' – When he commented on news that Hooters was ready to submit bankruptcy
And in February the chain closed one of its family-friendly gym wings of Hooter's spin-off restaurants, leaving only three left behind. The concept that will be launched in Chicago in 2017 sees dinners ordering on a counter instead of their tables.
But the biggest difference of Hoot Wings is the staff-Zowel male as female servers wear ordinary, non-degrading outfits in the counter-service restaurant.
After the news about Hooters – Problems this morning, Golf Insenter Paige Spiranac joked on X: 'Not on my watch' – which implies that she would intervene to save the brand.
Hooters, owned by Private Equity since 2019, has had around $ 300 million in bonds to be repaid, according to data collected by Bloomberg.
These bonds are supported – a bit like mortgages – for the assets that the possession, such as his property, trademark rights and reimbursements that it gets from his franchisees. That means that money lenders can put pressure on it to sell them if debts are not reimbursed.
Chapter 11 Bankruptcy enables companies to restructure – by negotiating lease contracts with landlords and loans with banks.
Red Lobster recently came from Chapter 11 after use to close 100 restaurants and clear debts.
Hooters now has around 300 restaurants worldwide after the closures this year. That is a decrease of 333 in 2018, according to Techonomic.
Rivals Dave & Buster's, Miller's Ale House and Twin Peaks have all increased a bit at their restaurant.
At the time of the closures in the summer, Hooters was not thought that it was a terrible financial situation as Red Lobster, which has now emerged from chapter 11 bankruptcy.
The bosses even said that Hooters remains very resilient and relevant, and emphasized a new range of Hooters -Frozen Food that is sold in supermarkets throughout America.
The first Hooters opened in Clearwater, Florida in 1983
The restaurant in Sportbar style is known for its wings and scantily dressed waitresses, 'Hooters Girls'
Hooters, opened six new locations in 2023. Three in Las Vegas, and three in Florida, where the brand originated
Marie advised others to apply for the chain while she showed off her money
Hooters, and also known for scantily clad waitresses, also calls himself 'the original American Wing Joint', and celebrated his 40th birthday in 2023.
The first Hooters opened in Clearwater, Florida in 1983. Only last May were the restaurants open – three in Las Vegas and three in Florida.
Waiters can earn a lot of money. Maia Marie, a 23-year-old waitress, shocked her 25,000 fans of social media with the more than $ 450 that she only got in the chain at one half team.
“I walked away with $ 451,” Marie said last year in a viral Tiktok video that was viewed 3.8 million times. So, it would probably be double over a complete shift.
Restaurants throughout America have had more and more trouble in the past year.
Faced with higher costs, they have increased menu prices – but that has led to a decrease in customers.
Large name chains such as Applebee's, TGI Friday's and Boston Market all recently closed restaurants.
Citizenfi is the last for the bankruptcy of the bankruptcy in September – Sparks Vrees for massive closures of its 162 locations.
Chains are the worst affected in California, where the minimum wage for fast food restaurants jumped to $ 20 per hour from 1 April.
At the beginning of June, Mexican chain Rubios closed 48 locations in the state and also supplied bankruptcy.
Mom-and-pop operations are also closed throughout America.
Fargo's Pit BBQ in Texas, for example, was closed after more than two decades of service -grid breast, ribs and other barbecue classics.
