hooters bankruptcies

(Bloomberg) — Hooters of America is working with creditors on a plan to restructure the business through bankruptcy court in the coming months, according to people with knowledge of the arrangements.

Hooters Goes T*ts Up as Restaurant Chain Files for Bankruptcy

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Breaking News Intern

The United States is officially opposed to calling Russia the aggressor in its war on Ukraine. In a Group of 7 (G7) statement, drafted to mark the historic third year anniversary of the war, U.S. representatives are objecting to any language believed to be pro-Ukraine, according to four officials from other countries involved in the assembly. The G7 allies originally adopted pro-Ukraine sentiment following Russia’s full-scale invasion. The phrase “Russian aggression” or word “aggressors” have been used in G7 statements since 2022, and the G7 group—headed by Canada—has long condemned Russia in their declarations. But only days after President Donald Trump called Ukrainian President Volodymyr Zelensky a “dictator” and claimed that Ukraine was to blame for the deadly war, U.S. officials have proposed a neutral statement that makes no reference to Russia as the offender or Ukraine as the victim. The new draft also cuts text describing the invasion as a breach of sovereignty. The Trump administration demanded a shorter statement that did not impact current ongoing negotiations with Russian President Vladimir Putin. The final language is currently being negotiated, which could continue until it is finally published Feb. 24. Officials are also still debating whether the G7 leaders, who will meet virtually Monday, will invite Zelensky. He was in attendance last year. Three years in, the war has killed tens of thousands of civilians.

Breaking News Intern

Bad news for Americans who love a meal with a side of cleavage—Hooters is going bankrupt. The popular restaurant chain, largely known for its servers’ skimpy outfits, is $300 million in debt. Almost 300 locations are scattered nationwide, historically enticing casual diners and drinkers with cheap beers and American comfort food. It isn’t the only chain prepping for its downfall—Red Lobster also filed for bankruptcy last summer. Both have blamed rising rent and food prices. Plus, they say, people are eating out less and ordering in more. The owl-themed spot first opened in Clearwater, Florida in 1983. For over four decades, it has greeted millions of Americans. But its loyal fans just aren’t cutting it anymore. Hooters is readying itself to restructure through Chapter 11—a policy which allows them to negotiate leases and loans in order to reorganize. Hooter-holics shouldn’t lose hope yet. Chapter 11 worked for Red Lobster, which emerged triumphant after closing 100 restaurants and ending their debts. The private equity-owned restaurant already shut down 40 of its “underperforming” locations in June to try and stay above water. Nationwide, dozens of chains are facing the same fate: from big players like Applebee’s and TGI Fridays to small, locally-owned businesses.

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Managing Editor, Commerce

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GLP-1 agonist drugs like Ozempic and Wegovy have surged in popularity during the last couple of years for their ability to help patients shed weight quickly and potentially reduce inflammation. While the drug class was initially used to treat diabetes and obesity, the compounds are now being prescribed for a range of off-label benefits aside from weight management. Of course, the natural supplement industry has taken note, and brands are launching drug-free alternatives formulated to help boost the naturally occurring GLP-1 hormone in the body sans a prescription. While these natural formulas will not deliver the same result as their RX counterparts, some early research suggests these products can mimic some of the same effects—albeit to a lesser extent. There are a slew of capsules, powders, and other GLP-1 boosting formulas on the market right now, but our current favorite is Apothékary’s Metabolic Tinctures.

The Metabolic Duo combines two powerful formulas: Blue Burn for metabolism support and Sugar Kick for blood sugar balance. Together, they might offer benefits similar to RX GLP-1 treatments. Blue Burn is designed to boost energy, jumpstart metabolism, and speed up recovery post-workout, thanks to a blend of adaptogenic herbs and metabolism-boosting botanicals. Sugar Kick, on the other hand, features a potent mix of ancient herbs known for helping regulate blood sugar, keeping sugar crashes and that 3 p.m. slump at bay. While each formula is sold separately if you’re looking for results that rival GLP-1s, investing in both is your best bet.

Entertainment Reporter

Blake Lively says she’s being “threatened” by communications amid her legal battle with It Ends With Us co-star Justin Baldoni and needs “additional protections,” according to documents obtained by People. Lively and husband Ryan Reynolds submitted a letter on Thursday requesting those protections, and also claimed that Lively, “her family, other members of the cast, various fact witnesses, and individuals that have spoken out publicly in support of Ms. Lively have received violent, profane, sexist, and threatening communications.” Both Baldoni and Lively had already agreed to a protective order, however Lively’s lawyers argue there’s “good cause” to amend the “model” one in place. Lively also amended her December complaint against Baldoni this week, wherein she claimed two of her female It Ends With Us co-stars were willing to testify that Baldoni had subjected them to “unwelcome behavior” on set. Lively’s publicist backed Lively’s claims that other “employees” besides Lively had made claims against Baldoni in her filing to be dismissed from his countersuit Thursday.

Breaking News Intern

After decades of enforcing a strict facial hair policy, the New York Yankees’ Managing General Partner, Hal Steinbrenner, released a statement announcing the Yankees would enter modernity and amend the policy. Now fans must wait in suspense to learn whether Aaron Judge will grow a beard. “In recent weeks I have spoken to a large number of former and current Yankees—spanning several eras—to elicit their perspectives on our longstanding facial hair and grooming policy,” Steinbrenner said in a statement posted to the Yankees’ X account. In surprisingly solemn language, Steinbrenner said, “These most recent conversations are an extension of ongoing internal dialogue that dates back several years. Ultimately the final decision rests with me, and after great consideration, we will be amending our expectations to allow our players and uniformed personnel to have well-groomed beards moving forward.” Steinbrenner did not state whether mustaches will be encouraged. “It is the appropriate time to move beyond the familiar comfort of our former policy,” Steinbrenner concluded.

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If you’re tired of a closet full of pants that fit but don’t fit your lifestyle—or even your body, Jack Archer is about to become your new favorite brand. The men’s apparel brand designs clothing for men who want to look stylish and feel comfortable as well. Say hello to the Jetsetter Tech Pant, the most versatile, sleek, and comfortable pants we’ve ever tried.

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A lawyer for Sean “Diddy” Combs has asked the judge in the disgraced rapper’s sex-trafficking case for permission to quit his defense. “Under no circumstances can I continue to effectively serve as counsel for Sean Combs,” Anthony Ricco wrote in a motion filed Thursday. “It is respectfully but regrettably requested that the court grant the relief requested,” Ricco wrote, without elaborating on why he wanted to step down. The decision came after speaking with Combs’ lead attorney Marc Agnifilo, the filing said, but a judge must sign off on it to make the resignation official. Ricco is one of six defense attorneys currently representing Combs, who was arrested in September on suspicion of sex trafficking and racketeering. Prosecutors say he allegedly forced women to participate in days-long sex parties he dubbed “freak-offs.” More than 150 alleged victims—many of them men and boys—have since accused Combs of sexual assault, leading to more than 30 civil suits, according to The New York Times. Combs and his lawyers have denied all of the allegations. His criminal trial is scheduled to start in May.

Senate Republicans voted to adopt a budget blueprint early Friday morning that differs sharply from the plan advanced by the House. After an all-night work session, the Senate voted 52-48 to first bolster funding for immigration enforcement, national security and energy production, and then deal with more complicated issues like tax policy in a separate legislative package. Worried about their razor-thin majority and eager to appease President Donald Trump, who has called for “one big beautiful bill,” House Republicans prefer to include tax measures in a single, more expansive budget bill. That means the legislation will eventually have to go through a reconciliation process that experts say could be long and contentious, potentially revealing rifts within the GOP. All Senate Republicans except Rand Paul of Kentucky agreed on the budget framework that advanced just before 5am Friday. During the late-night “vote-a-rama,” Democrats also forced a number of votes, including amendments to: block tax cuts for billionaires while food prices remain high, lower housing costs by preventing hedge funds from buying single family homes, and prevent Elon Musk’s DOGE from accessing Americans’ private data. Republicans voted down all three measures.

Reporter

The Securities and Exchange Commission has dropped its legal case against cryptocurrency exchange Coinbase. The company said on its website that the agency was “righting a major wrong” by ceasing its 2023 lawsuit, which they claim was part of a wider “war against crypto.” Coinbase, the largest crypto company in the U.S., worth about $65 billion, was sued on the grounds of allegedly putting consumers at risk of financial harm as digital currencies it platformed “constituted unregistered securities,” The New York Times reported. The dismissal of the case is subject to commissioner approval. Coinbase CEO Brian Armstrong said the company was told to expect this next week. “SEC staff has agreed in principle to dismiss its unlawful enforcement case against Coinbase, subject to Commissioner approval—righting a major wrong,” Coinbase Chief Legal Officer Paul Grewal wrote in a blog post. He added on X that there will be no settlement. “There will be no settlement or compromise—a wrong will simply be made right,” he said.

Reporter

A Canadian singer tapped to perform her country’s national anthem before Thursday’s U.S.-Canada hockey game used the opportunity to send a strong message to U.S. President Donald Trump. Grammy award-winning songbird Chantal Kreviazuk, 50, changed the lyrics to “O Canada” ahead of the 4 Nations Face-Off championship game against the U.S. on Thursday. Instead of singing “true patriot love in all of us command,” Kreviazuk sang “true patriot love that only us command.” She later posted on Instagram a photo of the amended lyrics written on her hand. “I am sorry if my performance of our national anthem rubbed you the wrong way,” she wrote in the caption. “Art to me is an expression of our truth. And in this very peculiar and potentially consequential moment, I truly believe that we must stand up, use our voices, and try to protect ourselves.” Kreviazuk’s performance was booed loudly at TD Garden in Boston. Her performance was followed by the Star-Spangled Banner, which the sold-out arena sang in full volume. American and Canadian sports fans have been booing each other’s anthems in recent weeks following Trump’s tariff threats and his stated desire to annex Canada and make it into America’s “51st state.” Canada beat the U.S. 3-2 in overtime to secure the championship.

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From work events to gatherings with friends, alcohol is a constant—especially now that it’s Damp February. The relaxation and social buzz a glass of wine or cocktail provides is hard to beat but comes with consequences like headaches, anxiety, and upset stomach the next day. Plus,
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This collection of THC seltzers provides a light buzz without the hangover. Happi’s beverages are all-natural, organic, non-GMO, alcohol-free, and only 20-50 calories a can. The THC used in Happi is Delta-9. Delta 9 is naturally derived from hemp and is known for its soothing and uplifting buzz.

Happi designed its drinks to mimic the onset of a glass of wine or a beer, so you feel the effects right away—around 15 minutes and last about two hours.

There are many drinks to choose from, but the Raspberry Honeysuckle is a clear fan favorite. It’s bursting with a sweet-tart berry flavor and a hint of honeysuckle. With over 140 reviews, Raspberry Honeysuckle holds a 4.9 rating on Happi’s website. Plus, in 2024, it won Gold at the L.A. Spirits Awards. If you’re ready to enjoy a new type of Happi hour this season, look no further than these THC-powered seltzers.

Night News Reporter

Transportation Secretary Sean Duffy was savagely booed Thursday during a news conference on California’s high-speed rail project at the Union Station in Los Angeles. The Donald Trump appointee blasted state authorities for mismanaging the once “exciting” project and claimed it had amounted to a waste of funds. He additionally disclosed that he would be subjecting the project to a “compliance review of funding” to determine whether or not “billions of dollars of taxpayer money” should still go toward it. Duffy’s comments, however, were drowned out by boos from a roaring crowd who chanted slogans like “Build the rail!” and “We pay taxes, we want trains!” In one moment while discussing layoffs at the Federal Aviation Administration, the crowd got particularly rowdy, almost distracting from Duffy’s words entirely. The secretary acknowledged the protesters in the crowd at one point and said, “These protesters should all be at the steps of Gavin Newsom’s mansion.” He continued: “They should all talk to him about what happened here.”

Breaking News Intern

Legendary rock band Kansas’s front-man Ronnie Platt has been diagnosed with thyroid cancer. The 64-year-old lead singer revealed his condition to fans in a post on Facebook on Saturday. “For all of you asking, Tuesday I was diagnosed with thyroid cancer but before everyone gets all excited, it has a 99% survival rate, it has not spread,” Platt wrote. “It’s contained to my thyroid. I just have to have my thyroid removed. Go through some rehab time and be right back in the saddle.” Platt added: “I sincerely appreciate everyone’s positive thoughts and prayers. I have some absolutely amazing people going to bat for me!! as it has been put to me, this is just a bump in the road and will be behind me very soon! So everyone please CARRY ON!” Kansas was formed in 1973 and released its most recent album, The Absence of Presence, in July 2020. In the wake of his diagnosis, the band rescheduled shows in Catoosa, Okla., and Durant, Okla, and canceled two shows in New Orleans and Lake Charles, Louisiana.

Hooters headed for potential bankruptcy filing

This 2015 file photo shows the logo of a Hooters Restaurant in Nashville, Tennessee. (Photo By Raymond Boyd/Getty Images)Getty Images

Hooters, the sports bar & grill chain famous for chicken wings served by waitresses in short shorts and tight T-shirts is preparing for a potential bankruptcy filing.

The nation-wide, casual dining chain is planning to restructure its operations, according to a report from Bloomberg News.

According to the report, citing sources, no final decision for declaring for Chapter 11 protection has been made, but a filing could take place in the next two months.

Hooters, an Atlanta-based company, has roughly 300 locations across the country.

In 2024, per Restaurant Business, the company took roughly four times longer to pay its vendors than the average restaurant chain, citing data from credit report company Creditsafe. More than 20 percent of Hooters’ outstanding bills were more than 90 days overdue last year, Creditsafe found.

In June, Hooters closed a number of underperforming restaurants across the country

The restaurant industry has seen similar issues among other major brands.

Red Lobster filed for bankruptcy in May, and TGI Friday’s recently had to cede control of assets.

Bloomberg cites casual dining chains have come “under pressure as inflation, supply chain disruptions and higher interest expenses raised menu prices.”

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Mark Heim is a reporter for The Alabama Media Group. Follow him on Twitter @Mark_Heim. He can be heard on “The Opening Kickoff” on WNSP-FM 105.5 FM in Mobile or on the free Sound of Mobile App from 6 to 9 a.m. daily.

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Hooters Goes T*ts Up as Restaurant Chain Files for Bankruptcy

Hooters headed for potential bankruptcy filing