Bloomberg: Hooters Is Preparing to File for Bankruptcy

Hooters is reportedly in talks to file for bankruptcy in the coming months. This comes after the company shuttered several of its locations last year, following a decline in patrons.
Hooters of America is working with the Ropes & Gray law firm to prepare for a bankruptcy filing as the business addresses its debt and liquidity, people with knowledge of the situation told Bloomberg.
The company is seeking to restructure Hooters through bankruptcy court, the sources said, adding that the restaurant’s bankruptcy plans are not yet final, but that if they proceed, the process will begin in the next two months.
The move comes after Hooters has experienced a decline in patrons. In 2021, the restaurant also sold around $300 million in asset-backed bonds, Bloomberg reported.
“The asset-backed bonds are packaged as whole-business securitizations — through which a company pledges most of its assets, including franchise fees, as collateral — a product popular among restaurant chains, fitness clubs and other businesses with franchised stores,” the outlet noted.
As Breitbart News reported, Hooters closed dozens of locations last summer as inflation continued choking customers and companies in then-President Joe Biden’s America.
“Like many restaurants under pressure from current market conditions, Hooters has made the difficult decision,” a Hooters spokesperson told New York Post at the time, referring to the shut down some of the company’s restaurants.
Approximately 40 of its 300 Hooters restaurants across the globe had been shuttered at the time.

https://www.breitbart.com/tech...tm_campaign=20250221

Going tits up, eh?

quote:

Originally posted by Sig2340:
Going tits up, eh?

Post of the Day!

I was thinking there's always the option of opening your home for wayward Hooter's girls...

They have been in business since 1983, not bad, considering how times change.
A little more transparency in their business model would help for a while.

Maybe they need trans waitresses. Yeah, that'll fix it!

quote:

Originally posted by Mars_Attacks:
Maybe they need trans waitresses. Yeah, that'll fix it!

Not the kinda trans I was thinking about
Actually hoping that the trans. goes away like Disco.
There is really no way to save Hooters, time to move on.

Hooters hired trans waiters in a business model that relied on sexual attraction or at least the possibility of it. Have you seen some of those Decepticons? They are not even trying to be attractive. This is at least in large part a go woke, go broke situation.

quote:

Originally posted by darthfuster:
Hooters hired trans waiters in a business model that relied on sexual attraction or at least the possibility of it. Have you seen some of those Decepticons? They are not even trying to be attractive. This is at least in large part a go woke, go broke situation.

I had no idea they were doing that. Not good for sure.

It’s a bust….

I saw that yesterday, and resisted the urge...

Hooters Goes Tits-Up As Bankruptcy May Come Within Months

Hooters of America is reportedly gearing up for a bankruptcy filing in the coming months as the iconic restaurant chain struggles with declining foot traffic and mounting debt, sources familiar with the matter told Bloomberg.

The Atlanta-based casual dining chain has enlisted the legal muscle of Ropes & Gray to handle its restructuring, while turnaround specialists at boutique advisory firm Accordion Partners are helping sort out the financial mess, according to sources who requested anonymity while discussing private dealings. The bankruptcy process is expected to kick off within the next two months.

Hooters’ creditors aren’t sitting idly by either. Some debtholders have tapped investment banking powerhouse Houlihan Lokey Inc. for advice, underscoring the severity of the chain’s financial troubles.
Declining Sales and Mounting Debt

The company has been struggling with cash flow issues as customers increasingly flock to other casual dining and fast-casual options. In recent years, several Hooters locations have closed their doors, a clear sign that the once-popular brand known for its wings and waitstaff is facing an existential crisis.

Adding to the financial woes, Hooters took on significant debt in 2021, issuing about $300 million in asset-backed bonds. These bonds, structured as whole-business securitizations, used the company’s franchise fees and other assets as collateral—a move common among restaurant chains looking to leverage their brand value for quick cash.
Executives Stay Silent

Despite the growing speculation, representatives for Hooters, Accordion Partners, and Ropes & Gray did not respond to requests for comment. A spokesperson for Houlihan Lokey also declined to weigh in on the situation.

https://x.com/JoshuaCalledMe/s.../1892953446191395255



https://www.zerohedge.com/econ...y-come-within-months

Yeah, it's a shocker.

With apps like Tinder and Plenty Of Fish, Hooters going bust was bound to happen but hiring trans was the equivalent of breaking out the cyanide capsule and biting on it hard.

Please keep me abreast.

quote:

Originally posted by Rey HRH:
With apps like Tinder and Plenty Of Fish, Hooters going bust was bound to happen but hiring trans was the equivalent of breaking out the cyanide capsule and biting on it hard.

Seemed to me that when I was younger, most of the guys I ever heard of going to Hooters were married men not looking to pick up waitresses, so even if you’re just looking for titillation, you have access to all the world’s streaming porn quite literally in your pocket these days. What’s the point of enduring shitty food just to see some C cups in a tank top?

quote:

What’s the point of enduring shitty food just to see some C cups in a tank top?

When you're in the breastaurant business you must have good food. Customers will come to look at the girls, but it will ultimately be the food that generates repeat business.

Good looking girls will make good tips. If you lack enough repeat business their tips decline and the good looking girls move on to greener pastures. This then brings in the lessor attractive waitresses, guys dressed like girls, etc. It's all downhill from there.

Seeing Hooters has outlasted many others, they seemed to have realized this at some point in their past.

quote:

Originally posted by a1abdj:
Good looking girls will make good tips. If you lack enough repeat business their tips decline and the good looking girls move on to greener pastures. This then brings in the lessor attractive waitresses, guys dressed like girls, etc. It's all downhill from there.

Downhill like the fastest Olympic skier.

The Mrs. and I used to go to get crab legs and smoked wings. That stopped when all of the crab boil places opened around here, much better crab. Several dedicated wing places are better too

Not to mention the new generation of candy ass males don’t drink beer or look at tits.

Their creditors have them over a barrel.

There was one down the road from my office, we'd go for lunch, it was one of the few places for wings back then, it's been gone, now its a car wash. Theres one about 10 miles north but haven't been in a long time.

Now, there are plenty of alternative wing-knockers options and wing places without the titillating attractions

Winghouse here has 19 locations, decent wings, and a similar look with cute buxom waitresses in shorty shorts, Twin Peaks with a much wider selection of food,

Titless is your option then locally Gators Dockside, Froggers, Millers Ale House, etc etc.