Hooters’ Impending Bankruptcy Concerns NBA Star Devin Booker
Phoenix Suns guard Devin Booker has expressed his apprehension over the looming bankruptcy of the popular restaurant chain, Hooters. Following the news of the company’s potential Chapter 11 filing, Booker voiced his concerns on social media, urging the chain to remain afloat.
Booker’s Plea for Hooters’ Survival
"Plz don’t go @Hooters," Booker tweeted after the Suns’ victory over the Chicago Bulls on Saturday.
Booker’s tweet garnered significant attention, with many sharing similar sentiments. Golf influencer Paige Spiranac also echoed Booker’s concerns, stating, "Not on my watch."
Hooters’ Financial Struggles
Hooters of America is reportedly considering a Chapter 11 filing to restructure its $300 million debt. The chain has been working with the law firm Ropes & Gray to prepare for the filing, but the plans are not finalized.
Hooters has experienced declining business in recent years, leading to the closure of numerous locations across the country. Approximately 40 restaurants have shuttered, although none in Arizona, where Booker resides.
In 2021, Bloomberg reported that Hooters sold around $300 million in asset-backed bonds. Despite these efforts, the company continues to face financial challenges.
Booker’s Season and Hooters’ Fate
While Hooters battles to stay afloat, Booker is focused on leading the Suns to success this season. Despite a talented roster, Phoenix currently sits 27-29, placing them outside of the Play-In Tournament due to their 11th-place standing in the Western Conference.
The 28-year-old guard is averaging 26.0 points, 6.7 assists, and 4.0 rebounds in his 10th NBA season, all of which have been with the Suns.
Public Reaction to Hooters’ Situation
The news of Hooters’ potential bankruptcy has sparked a range of reactions from the public. Some have expressed disappointment and nostalgia for the chain, while others have criticized the company’s policies or menu options.
However, the outpouring of support from Booker and other celebrities highlights the enduring popularity of Hooters among certain demographics.
Hooters’ Commitment to Restructuring
Hooters is actively working with creditors to restructure its debt. The company’s goal is to emerge from this challenging period as a stronger and more sustainable business.
The future of Hooters remains uncertain, but it is clear that the company has a loyal following that is rooting for its survival. Whether or not Hooters can overcome its financial hurdles and continue to serve its signature wings and atmosphere remains to be seen.
