The beloved Peachtree Street Hooters closed permanently earlier this week after 22 years in downtown Atlanta. The closure, coming alongside closings for three other Georgia locations and over 30 others across the country, follows the company’s filing for Chapter 11 bankruptcy earlier this year.
Hooters’ locations in Duluth, Douglasville and Valdosta also announced permanent closures, while locations on Atlanta’s Cobb Parkway and Tara Boulevard will remain open. However, the downtown location will always be remembered as a hot spot for tourists and sports fans
Credit: TNS
Credit: TNS
Despite the closures across the country, Hooters plans to “remain open” as the company enters a restructuring phase.
“Our renowned Hooters restaurants are here to stay,” Sal Melilli, chief executive officer of Hooters of America, said in a press release. “Today’s announcement marks an important milestone in our efforts to reinforce Hooters’ financial foundation.”
The closures are part of a new agreement to sell all company-owned stores in favor of a fully franchised model.
“As we look toward the future, we are committed to restoring the Hooters brand back to its roots and simplifying HOA’s operations by adopting a pure franchise model that will maximize the potential for sustainable, long-term growth,” said Neil Kiefer, CEO of Hooters Inc., in a press release.
According to the company, the restructuring plan should be completed within 90 to 120 days.
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