Hooters Reportedly Nearing Bankruptcy

Hooters looking at possible bankruptcy filing
Hooters is looking at possibly filing for bankruptcy as a means of restructuring the restaurant chain and tackling its debt, Bloomberg reported Friday, citing unnamed sources.
Hooters Reportedly Nearing Bankruptcy And The Reason Why Couldn't Be Clearer
Hooter's is facing impending bankruptcy from debt and declining foot traffic, and the future of the company is as of now quite uncertain.
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What does a potential Hooters bankruptcy say about the industry? In the latest episode of the Restaurant Business podcast The Week in Restaurants, Executive Editor Lisa Jennings and I discuss the potential bankruptcy of Hooters and what led the brand to this fate,
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Hooters, the "delightfully tacky, yet unrefined" restaurant chain that was born in Clearwater, may be heading for bankruptcy, according to Bloomberg.
Hooters considers bankruptcy as San Antonio locations remain open
On February 21, Bloomberg broke the news that Hooters of America has been in talks with its creditors to reorganize the business through a bankruptcy filing in the near future. According to that report, the company is working with law firm Ropes & Gray, which has represented other companies through bankruptcy proceedings .
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Is Hooters on the Brink of Bankruptcy?
Bloomberg News reports Hooters may be on the brink of filing for bankruptcy. The restaurant chain once had 430 locations around the world. Now, 40 locations shuttered in the U.S. in the past year alone.
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Coresight Research, a retail and technology data platform, predicts an escalation this year, with around 15,000 stores expected to shutdown. Among the notable closures are some major names like Hooters and Big Lots (BIG).
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