Hooters Shuttering Dozens of Locations: Private Equity Fallout or Failing Business Model?
Following its March bankruptcy filing, Hooters has closed approximately 30 company-owned locations across several states. This closure is part of a broader restructuring plan to transition to a purely franchised model, optimizing its business for long-term success. The closures, while impacting employees, are seen as a necessary step to improve the overall health of the chain, mirroring similar strategies employed by other struggling restaurant brands. This move follows previous closures and is attributed to a combination of economic factors, including decreased consumer spending and the need to shed underperforming units.
John Q. Hosedrinker