Hooters Hit by Inflation, Forced to Close 40 Locations Across US Amid Financial Struggles

Hooters abruptly shut down around 40 locations across the US due to poor financial performance. The closures are part of Hooters' 12% decline in total restaurant numbers since 2018, from over 300 locations to around 290. High inflation and changing consumer spending habits have negatively impacted many restaurant chains. Hooters cited "current market conditions" as the reason for shuttering underperforming stores. Despite location closures, Hooters remains optimistic about expansion through new restaurant openings domestically and abroad. Hooters frozen food products are also launching in grocery stores to diversify sales channels.