According to reports, the American restaurant business Hooters, which is well-known for its waitresses dressed in form-fitting athletic uniforms, is on the verge of going bankrupt.
According to insiders who spoke to Bloomberg on Friday, Hooters is getting ready to declare bankruptcy in order to restructure its company, perhaps within the next two months. The ideas, which are being worked on with the legal firm Ropes & Gray, are not final.
In recent years, the casual dining company has closed some of its outlets due to a decline in patronage. In 2021, Hooters offered bonds worth about $300 million that were backed by franchise fees and other assets.
Hooters’ history page on its website states that the company went “from humble beginnings to worldwide success.”
According to the website, “six businessmen with no restaurant experience whatsoever got together to open a place they couldn’t get kicked out of” led to the opening of the first Hooters in Clearwater, Florida, in 1983.
With over 420 locations in 29 countries, the Hooters brand has become a global sensation more than thirty years later, the statement reads.
In all those languages, how would you say “Hooters”? Here’s a clue. It’s just Hooters.’
The chain’s restaurants serve sports bar-type fare, beer and are equipped with TV screens broadcasting popular games.
Its waitresses, called Hooters Girls, wear short orange shorts and low-cut tank tops or T-shirts with the company’s name in orange and an owl’s eyes behind the two O’s in Hooters.
The signature look has prompted the company to include a section in its frequently asked questions on whether the public can buy the Hooters Girl uniform.
‘The Hooters Girl is every bit as special and coveted to us as she is to you. As a result, the Hooters Girl uniform is only available to actively employed Hooters Girls. We are very protective of our girls and our brand,’ it reads.
But we do have the iconic orange Hooters Girl shorts. Similar to what our girls wear, we also sell a lycra tank top and a ribbed tank top. The public cannot access name tags, pouches, or panty hose.
Thailand’s Hooters restaurant logo
In Clearwater, Florida, the first Hooters opened its doors in 1983. The image is from Shutterstock.
With the help of its lawyers and the boutique firm Accordion Partners, Hooters has been addressing its debt problems. According to reports, debtholders have also requested advice from Houlihan Lokey Inc.
Its alleged bankruptcy plans coincide with the closure of more restaurants by other restaurant companies in their fight for survival. The casual dining giant Denny’s confirmed this week that it is closing 38 additional sites in addition to the 150 it had previously stated would be
