Current:Home > MarketsRekubit-Hooters closing underperforming restaurants due to 'current market conditions' -AssetTrainer
Rekubit-Hooters closing underperforming restaurants due to 'current market conditions'
Benjamin Ashford View
Date:2025-04-09 15:58:08
Hooters announced several "underperforming" restaurants will close their doors permanently.
A "select number" of restaurants will shutdown due to "pressure from current market conditions,Rekubit" the chain said in a statement to USA TODAY Monday.
"Ensuring the well-being of our staff is our priority in these rare instances," the statement reads. "This brand of 41 years remains highly resilient and relevant. 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."
The company did not clarify which locations will shutdown or share a timeline for the closures, but reporters around the nation with the USA TODAY Network found dozens of Hooters restaurants shuttered on Monday, including in Florida, Texas, Kentucky and Indiana.
Hooters had 293 locations
The chain said they are continuing to open locations domestically and internationally while launching Hooters frozen products at grocery stores.
Technomic Ignite shows that Hooters had 293 restaurants by the end of 2023, a 1.3% decrease from 2022, Nations Restaurant News reported.
The company has experienced a 12% decline since the end of 2018, when there were 333 Hooters locations, per NRN.
Red Lobster, Rubio’s Coastal Grill also close spots
The announcement comes as other restaurant chains face mass closures.
Earlier this month, Red Lobster was unable to renegotiate their leases, according to bankruptcy documents, after the company's website listed 99 closures across 28 states in May.
The company listed 228 rejected leases it says will keep losing money if they continue operating as they currently are. The list of restaurants includes at least some of the restaurants it has already closed, according to RNN. Some Red Lobster locations had their equipment auctioned off via an online restaurant liquidator putting an additional 129 restaurants at risk of shutting down.
Rubio’s Coastal Grill also closed 48 "underperforming" Mexican grill restaurants across California this month, NRN reported. By the end of 2023, about 33% of chain restaurants had less locations than they started the year with.
Contributing: Gabe Hauari
veryGood! (5174)
Related
- IRS recovers $4.7 billion in back taxes and braces for cuts with Trump and GOP in power
- Idaho Murder Suspect Bryan Kohberger Claims Surviving Roommate Has Evidence That May Help Clear His Name
- See How Janelle Monáe Stripped Down on the 2023 Met Gala Red Carpet
- Kim Kardashian Reveals the One Profession She’d Give Up Her Reality TV Career For
- Juan Soto praise of Mets' future a tough sight for Yankees, but World Series goal remains
- These Are the Best Hoka Running Shoe Deals You Can Shop Right Now
- Keep Up With Kim Kardashian's Most Challenging Met Gala Looks
- Jury Duty's Ronald Gladden Reveals What It Was Really Like Working With James Marsden
- 2025 'Doomsday Clock': This is how close we are to self
- Kendall Jenner Skipped the Pants for Must-See Met Gala 2023 Look
Ranking
- Spooky or not? Some Choa Chu Kang residents say community garden resembles cemetery
- Today’s Climate: April 20, 2010
- The latest to be evacuated from California's floods? Bunnies
- How to Watch the 2023 Met Gala
- South Korean president's party divided over defiant martial law speech
- Save 40% on TULA Protect + Glow Daily Sunscreen and Get a Luminous Look
- Sydney Sweeney Reveals Her Nickname for Co-Star Glen Powell
- The U.S. plans new protections for old forests facing pressure from climate change
Recommendation
Israel lets Palestinians go back to northern Gaza for first time in over a year as cease
A 15-year-old law would end fossil fuels in federal buildings, but it's on hold
Inside Halsey and Alev Aydin's Co-Parenting Relationship After Breakup
Met Gala 2023: Cardi B Makes a Quick Outfit Change From Hotel to Red Carpet
Spooky or not? Some Choa Chu Kang residents say community garden resembles cemetery
Met Gala 2023: Cardi B Makes a Quick Outfit Change From Hotel to Red Carpet
Today’s Climate: April 20, 2010
Haley Lu Richardson Checks In on Her White Lotus Character's Possible Fate