Hooters, the popular restaurant chain known for its all-female wait staff and chicken wings, has filed for bankruptcy. Despite this, the company claims it’s not going anywhere and plans to sell off its 100 company-owned restaurants to two franchisee groups.
The buyer group includes original Hooters founders Neil Kiefer and others, who plan to take the brand back to its roots by making it more family-friendly. The company will continue to operate as usual during the bankruptcy process but may close some locations. Hooters plans to exit Chapter 11 bankruptcy protection within 90-120 days.
The move follows other fast-casual restaurants like BurgerFi and Red Lobster, which have also filed for bankruptcy due to rough business conditions. Hooters has faced criticism over its workforce practices, with lawsuits ranging from racial discrimination to gender discrimination. The company closed dozens of restaurants last year citing rising food and labor costs.
Private equity firms Nord Bay Capital and TriArtisan Capital Advisors bought Hooters in 2019. The CEO, Neil Kiefer, stated that the turnaround plan aims to revitalize the brand and make it more appealing to a wider audience.
Source: https://edition.cnn.com/2025/03/31/business/hooters-restaurant-bankruptcy/index.html