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Here’s more about the latest bankruptcy blow.
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However, as the economic landscape has become increasingly volatile, the chain has struggled to maintain financial stability.
What’s Next for Hooters?
The extent of the impact on employees, franchise operators, and customers remains to be seen.
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The company secured over $100 million in financing commitments to support its restructuring efforts.
The chain continues to operate remaining locations while implementing strategic changes to regain financial stability.
TGI Fridays, Too
TGI Fridays also sought Chapter 11 bankruptcy protection in November 2024.
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The company attributed its financial difficulties to rising interest rates, increased competition, and a heavy debt load.
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Courtesy of BurgerFi
