Current:Home > InvestHooters closing underperforming restaurants due to 'current market conditions'-LoTradeCoin
Hooters closing underperforming restaurants due to 'current market conditions'
View Date:2025-01-11 07:36:54
Hooters announced several "underperforming" restaurants will close their doors permanently.
A "select number" of restaurants will shutdown due to "pressure from current market conditions," the chain said in a statement to USA TODAY Monday.
"Ensuring the well-being of our staff is our priority in these rare instances," the statement reads. "This brand of 41 years remains highly resilient and relevant. We look forward to continuing to serve our guests at home, on the go and at our restaurants here in the U.S. and around the globe."
The company did not clarify which locations will shutdown or share a timeline for the closures, but reporters around the nation with the USA TODAY Network found dozens of Hooters restaurants shuttered on Monday, including in Florida, Texas, Kentucky and Indiana.
Hooters had 293 locations
The chain said they are continuing to open locations domestically and internationally while launching Hooters frozen products at grocery stores.
Technomic Ignite shows that Hooters had 293 restaurants by the end of 2023, a 1.3% decrease from 2022, Nations Restaurant News reported.
The company has experienced a 12% decline since the end of 2018, when there were 333 Hooters locations, per NRN.
Red Lobster, Rubio’s Coastal Grill also close spots
The announcement comes as other restaurant chains face mass closures.
Earlier this month, Red Lobster was unable to renegotiate their leases, according to bankruptcy documents, after the company's website listed 99 closures across 28 states in May.
The company listed 228 rejected leases it says will keep losing money if they continue operating as they currently are. The list of restaurants includes at least some of the restaurants it has already closed, according to RNN. Some Red Lobster locations had their equipment auctioned off via an online restaurant liquidator putting an additional 129 restaurants at risk of shutting down.
Rubio’s Coastal Grill also closed 48 "underperforming" Mexican grill restaurants across California this month, NRN reported. By the end of 2023, about 33% of chain restaurants had less locations than they started the year with.
Contributing: Gabe Hauari
veryGood! (34)
Related
- 25 monkeys caught but more still missing after escape from research facility in SC
- Judge rejects Texas AG Ken Paxton’s request to throw out nearly decade-old criminal charges
- Oregon TV station apologizes after showing racist image during program highlighting good news
- Warm Winter Threatens Recreation Revenue in the Upper Midwest
- He failed as a service dog. But that didn't stop him from joining the police force
- There was an outcry about ‘practice babies’ on TikTok. It’s not as crazy as it sounds.
- Teen Mom Alum Jenelle Evans and Husband David Eason's Child Protective Services Case Dropped
- Robert Hur, special counsel in Biden documents case, to testify before Congress on March 12
- Stop smartphone distractions by creating a focus mode: Video tutorial
- About that AMC Networks class action lawsuit settlement email. Here's what it means to you
Ranking
- FSU football fires offensive, defensive coordinators, wide receivers coach
- Deadly shooting locks down a Colorado college
- Iowa's Caitlin Clark breaks NCAA women's basketball scoring record
- Facebook chirping sound is a bug not a new update. Here's how to stop it now.
- Nicole Kidman Reveals the Surprising Reason for Starring in NSFW Movie Babygirl
- Get a Tan in 1 Hour and Save 46% On St. Tropez Express Self-Tanning Mousse
- Wounded Gaza boy who survived Israeli airstrike undergoes surgery in U.S.
- Caitlin Clark does it! Iowa guard passes Kelsey Plum as NCAA women's basketball top scorer
Recommendation
-
Indiana in the top five of the College Football Playoff rankings? You've got to be kidding
-
Baltimore County police officer indicted on excessive force and other charges
-
Biden says Navalny’s reported death brings new urgency to the need for more US aid to Ukraine
-
'Footloose' at 40! Every song on the soundtrack, ranked (including that Kenny Loggins gem)
-
Mike Tyson vs. Jake Paul referee handled one of YouTuber's biggest fights
-
What does Tiger Woods need to do to make the cut at the Genesis Invitational?
-
Prosecutors drop domestic violence charge against Boston Bruins’ Milan Lucic
-
Horoscopes Today, February 15, 2024