This Popular Chain With Six Missouri Locations Might Go Bankrupt

There's been no shortage of restaurants and retail stores either going out of business, needing someone to save them from bankruptcy, or figuring out how to use bankruptcy to move forward in some form or fashion. The next big chain that might be filing bankruptcy is Hooters Restaurants.

Hooters has six Missouri restaurants, including Columbia, Maryland Heights, and Springfield. They did have a location in Independence near Cable-Dahmer Arena, but it looks to have closed some time ago.

Bloomberg reports the chain is working with a law firm to ready a bankruptcy filing in the next two months. Bloomberg says Hooters has faced liquidity issues as foot traffic has declined. Closing several locations and selling 300 million in asset-backed bonds in 2021 hasn't helped the company change its fortunes.

Bloomberg previously reported that the company has been working with lawyers and turnaround advisers from Accordion Partners to address its debt load. Hooters debtholders have also been concerned and have tapped Houlihan Lokey for guidance.

Bloomberg says the restaurant business has been highly challenging recently because of inflation, supply chain disruptions, and higher interest expenses. According to Black Box Intelligence, restaurant menu prices increased 44% from 2015 to March 2024.

Let's face it: Hooters also has the added challenge of being a restaurant that sells itself just as much on sex as it does wings. Some families won't be heading there for a family meal, and some women probably don't particularly want a waitress in a skimpy server uniform flirting with their man—either in front of them or at all, even though that's just part of the restaurant's shtick.

Not to mention, I've never really thought their wings are that good. Every time I've had them, I've wound up with a tummy ache, so I haven't spent much time at Hooters.

When my girlfriend expressed her disappointment that the Hooters near Cable Dahmer Arena had closed, my first thought wasn't hey, I have a cool girlfriend who's OK with going to Hooters. It was, man; I'm glad this location is closed, so I don't have to deal with the aftermath of eating Hooters wings.

That said, I've always enjoyed the service I've received at Hooters. And when everyone knows the deal: You're paying for your food and an attractive, appropriately sweet, flirty waitress that takes good care of you while you are a guest, it's an enjoyable time for everyone involved.

Get our free mobile app

The question I have is, can Hooters, a restaurant known for wings and servers in hot, skimpy outfits, survive in a post-pandemic, technology-driven, Only Fans world where paying for a plate of wings to be served to you by a flirty, attractive waitress is actually pretty innocent?

Looks like we might be finding out pretty soon.