Hooters has filed for Chapter 11 bankruptcy due to increased food and labor costs, alongside a shift in consumer preferences and competition from chains like Shake Shack. The franchise intends to sell 100 company-owned U.S. locations to franchisees, including the brand's founders, promising a return to a stronger brand history. Notably, Hooters will continue operations at its existing locations worldwide, as more than 420 restaurants remain in 29 countries despite these challenges.
"For many years now, the Hooters brand has been owned by private equity firms and other groups with no history or experience with the Hooters brand."
"Under the Hooters bankruptcy plan, 100 company-owned U.S. restaurants would get sold to a group of Hooters franchisees."
Collection
[
|
...
]