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Hooters files for bankruptcy (www.cnn.com)

submitted 2 days ago by MicroWave@lemmy.world to c/economics@lemmy.world

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Summary

Hooters filed for Chapter 11 bankruptcy in Texas, planning to sell its 100 company-owned restaurants to two major franchisee groups from Tampa and Chicago.

These groups already run a third of Hooters' U.S. franchises. The company blamed closures on rising food and labor costs and faces lawsuits over discrimination.

It expects to exit bankruptcy within 90–120 days. Private equity owners Nord Bay Capital and TriArtisan bought Hooters in 2019.

The buyer group includes original founders aiming to make the brand more family-friendly.

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[–] MrJameGumb@lemmy.world 35 points 2 days ago

They should have followed the King of the Hill model

[–] CubitOom@infosec.pub 20 points 2 days ago

Beer, chicken wings, and titties couldn't survive under the Trump regime's planned recession.

[–] Semi_Hemi_Demigod@lemmy.world 14 points 2 days ago

Hooters: Because you’re not allowed to bring your kids to a strip club

[–] SkyezOpen@lemmy.world 2 points 1 day ago* (last edited 1 day ago)

They had a chance to save themselves.

*Image uploads fixed, replaced link with screenshot.

[–] ryathal@sh.itjust.works 5 points 2 days ago

Twin peaks and tilted kilt took the model and added better food.

[–] HappySkullsplitter@lemmy.world 7 points 2 days ago* (last edited 2 days ago)

Wow, 41 years.

T&A for the whole family lasted way longer than I thought it would

[–] i_dont_want_to@lemmy.blahaj.zone 3 points 2 days ago

Aw, they went tits up.