Who owns Hooters? Netizens weigh in as iconic chain reportedly plans to file for bankruptcy amid store closures

American restaurant chain Hooters, owned by Florida-based investment company Nord Bay Capital and New York-based investing firm TriArtisan Capital (as advisor), is reportedly heading to file for bankruptcy.

As reported by Bloomberg News, the company is planning to restructure its business operations and has been working with its creditors. Sources close to the restaurant chain told the outlet the company has consulted the law firm Ropes & Gray LLP for the filing procedure, which could potentially begin in two months.

However, the source, who wished to remain anonymous, stated that the decision of bankruptcy filing has not yet been finalized. Although details were not disclosed, the company, burdened with debt, has reportedly been facing an increased decline in its customer base in recent years.

As news of its possible bankruptcy surfaced, netizens took to X to share their reactions.

"Soggy a** wings," criticized one X user.

"Am I surprised? No. They’re overpriced & Twin Peaks better," wrote another.

"Say whatever you want about Hooters, but from a marketing perspective, they'll go down as a transcendent brand," said one person.

Many referred to the restaurant's signature practice of dressing female waitresses in revealing Hooters tops, mocking traffic decline as the possible reason for its reported bankruptcy.

"funny bc their main customers aka toxic objectifying men haven’t gone anywhere," wrote one X user.

"oh no, where will men awkwardly stare at waitresses now?!" said another.

"men with no woman to love are crying," mocked one more.

Some people appeared rather pleased with the news as they hoped for the restaurant chain to shut down.

"That restaurant is so se*ist and there’s no place for se*ism in 2025. Good riddance," commented one more.

"i genuinely don't understand why this place existed in the first place," one person wrote.

"the world is healing," said one individual.

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Hooters was compelled to close several locations before supposed plan to file for bankruptcy

In 2021, Hooters reportedly sold asset-backed securities worth approximately $300 million, followed by the closure of several locations nationwide in 2024. The fast-food chain currently has 300 outlets across the US.

An increase in their menu prices also supposedly drove customers away alongside other controversies, including allegations of a questionable workplace environment. The company previously found itself embroiled in lawsuits over s*xual harassment and racial discrimination.

In 2023, the Equal Opportunity Employment Commission (EEOC) sued the restaurant chain over accusations of colorism and racial discrimination. According to an August 2023 press release from EEOC's official website:

"Hooters of America, LLC, a Georgia Corporation, violated federal law when it failed to recall employees after a COVID-motivated layoff because they were Black and/or had dark skin tones."

The complaint stated that in 2020, Black and dark-skinned waitresses at a Greensboro Hooters outlet were subjected to discrimination by their manager. They were reportedly among the 43 employees laid off during the COVID-19 pandemic. However, after resuming operations, the restaurant allegedly appointed back only white and light-skinned servers.

The fast-food chain settled the lawsuit in 2024 for $250,000.