HOOOTERS himself adds to the list of bankrupt food chains

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Lauren Torres: After many famous informal food chains raised for bankruptcy in 2024, another can be added to the menu: HOOTERS. The series, founded in 1983, needed to know a way to deal with its debt of $ 376 million. It will now sell all its company owned by a group backed by some of its indigenous founders.

The company owns and runs 151 sites, with an additional 154 managed by the concession. But like many unofficial dining restaurants – Hooters struggle with inflation, high costs and consumers who realize the cost.

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According to the Federal Reserve in St. Louis, restaurant prices have increased by 30 % over the past five years. In 2024, the high costs on Fridays, TGI and Red Lobster, among other things, caused bankruptcy.

He will do this to your daily surrounding. From New York City, I am Lauren Torres with Thestreeet.