Hooters, the popular restaurant chain known for its wings and casual dining atmosphere, is reportedly preparing to file for bankruptcy after a series of store closures in 2024, according to Bloomberg.
Founded in 1983 in Clearwater, Florida, by six businessmen with no prior restaurant experience, Hooters grew into a global brand with over 420 locations across 29 countries. However, financial difficulties have forced the company to downsize, shutting down approximately 40 locations last year. With $300 million in outstanding asset-backed bonds, Hooters now faces significant financial pressure, pushing it toward a potential bankruptcy filing.
