Hooters of America is nearing a potential bankruptcy filing in the coming months, as the restaurant chain works to address its significant debt load and liquidity issues. The casual dining chain has enlisted the help of law firm Ropes & Gray to prepare a restructuring plan. According to sources familiar with the arrangements, the plans are not yet finalized, but the process is expected to begin within the next two months.
Source: https://www.bloomberg.com/news/articles/2025-02-21/hooters-in-talks-to-prepare-a-bankruptcy-filing-in-coming-months