Hooters

Financing

A smaller Hooters starts its comeback from bankruptcy

The sports bar chain has closed some of its weakest locations in recent months, but others are showing signs of life under new ownership. “I'm cautiously optimistic,” said CEO Neil Kiefer.

Financing

Bankrupt Hooters kicks off comeback under new owners

A pair of franchisees, including the breastaurant chain’s original founders, have acquired what was left of Hooters of America with plans to “re-Hooterize” the brand with menu upgrades and more modest uniforms.

The former WWE wrestler’s fledgling beer company is reportedly planning a bid for the bankrupt breastaurant chain, although Hooters already has another buyer lined up.

The closures leave the casual-dining breastaurant chain with about 200 U.S. locations as it prepares for a sale to a pair of franchisees.

The Bottom Line: The casual-dining chain’s owners loaded the company up with too much debt coming out of the pandemic. The result was a predictable bankruptcy.

America’s first breastaurant chain started as a joke and then became a juggernaut. Now, forced into bankruptcy by debt, inflation and some questionable decisions, it is hoping for a second chance, back where it all began.

The group that created the casual-dining breastaurant chain will soon reclaim more than 100 locations out of bankruptcy. On the agenda: Better food and longer shorts.

The venerable casual-dining chain plans to sell its company restaurants to two existing franchisees, including the company run by the brand's founders.

HMC Hospitality, the operator of Original Hooters restaurants, is plotting to rescue the larger Hooters of America through a bankruptcy filing, Bloomberg reported.

The struggling casual-dining chain had backed Chase Elliott’s car for years but stopped paying its dues last March, according to a lawsuit filed by Hendrick Motorsports.

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