Hooters Restaurant Chain Files for Bankruptcy

united states - Hooters restaurant chain files for bankruptcy, plans to sell to franchise groups. CEO aims to make chain more family-friendly while returning to its roots.

Hooters Restaurant Chain Files for Bankruptcy

Hooters, known for its revealing outfits and chicken wings, files for bankruptcy. Plans to sell its hundred own restaurants to franchise groups in Tampa and Chicago.

Franchise Group Acquisition

• Hooters plans to sell its restaurants to franchise groups in Tampa and Chicago.
• CEO aims to strengthen Hooters' financial foundation and continue delivering hospitality and delicious food.

Future Direction

• New owners include Hooters Inc., led by CEO Neil Kiefer, an original founder, aiming to make the chain more family-friendly while returning to its roots.
• Kiefer plans to maintain the brand's essence while adapting to modern market demands.

Challenges and Competition

Established in 1983, Hooters faced financial challenges due to the pandemic, declining foot traffic, and increased competition from brands like Twin Peaks.