Guys, I hate to break this news to you: Hooters is on the brink of bankruptcy.
With fewer Gen Z men going out to watch sports and suck down draft beers compared to prior generations, and with competition from Twin Peaks and other breastaraunts trying to steal its business, Hooters is in a tough economic spot.
Bloomberg reported Friday that Hooters of America, which is based in Atlanta and owned by private equity firm Nord Bay Capital, “is working with creditors on a plan to restructure the business through bankruptcy court in the coming months.”
In 2024, Hooters announced it was closing at least 40 underperforming stores.
“With new Hooters restaurants opening domestically and internationally, new Hooters frozen products launching at grocery stores, and the Hooters footprint expanding into new markets with both company and franchise locations, this brand of 41 years remains highly resilient and relevant,” the restaurant told Nation’s Restaurant News at the time. “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.”
Now here we are with the latest news and the realization we could be looking at a dramatically different business after it goes through bankruptcy.
Could this be the end of the Hooters Girls? Would a bankruptcy judge order the company to sell off the Hoots unis like they’re liquidating XFL jerseys?
You’re damn right I’m having a hard time thinking about this iconic brand possibly losing its very existence.
Paige Spiranac reacts to Hooters bankruptcy news
We’ve been warned that this cultural shift was coming because Gen Z doesn’t care about sex
In 2023, Gen X financial analyst Meridith Whitney, who has been dubbed the “Oracle of Wall Street,” went on CNBC and unloaded on young men and their lack of interest in getting laid.
“It’s all young men and I dovetailed that with Pew Research which says that 63% of young men are single,” Whitney explained. “And that’s the highest it’s ever been. And 50% of those young men have no interest in dating, not even casually.”
She wasn’t done.
“30% of young men said they haven’t had sex in over a year and don’t seem to care.”
You’re damn right these Gen Zs aren’t going to Hooters to enjoy the flirtatious atmosphere and good times.
What are they doing instead?
Dicking around on their phones and playing video games.
“You have the lowest household formation growth rate in over 60 years. And so you have young men who don’t want to date and young women who are spending their time with Instagram moments going to Taylor Swift concerts. So they’re not getting married,” Whitney continued.
Hooters pays the price due to this cultural shift. Instead of going to Hoots on a Thursday night for the 4 Nations hockey game or a football game, men are sitting at home stoned on gummies and gambling on their phones while some DoorDash driver drops off McDonald’s.
And now here we are with tragic American pop culture news.
Can Paige Spiranac save the day? Good luck. She’s dealing with men who’ve been told their entire lives that they have to be soy boys and can’t possibly head out to suck down wings and beers at a classic breastaurant.
America reacts to Hooters facing bankruptcy
