Latest news with #DardenRestaurants
CNN
11 hours ago
- Business
- CNN
Hooters abruptly closes dozens of restaurants
Hooters has abruptly closed dozens of locations just a few months after the chicken wing chain filed for bankruptcy and proclaimed it wasn't 'going anywhere.' 'After careful consideration of what is needed to best position our company for the future, Hooters made the difficult decision to close certain company-owned locations,' a company spokesperson said in a statement to CNN. A specific list of closures wasn't released, but local reports reveal that about 30 locations were affected including several in Florida, Georgia, Michigan, North Carolina, South Carolina, Tennessee and Texas. The company said that it's 'here to stay, and by optimizing our business in support of our long-term goals, Hooters will be well-positioned to continue our iconic legacy under a pure franchise business model.' The 42-year-old chain, best known for its orange-clad, all-female wait staff, filed for bankruptcy in March. Hooters is selling all of its 100 company-owned restaurants to two franchisee groups that operate Hooters locations in the Tampa, Florida, and Chicago areas. However, the closures aren't a complete surprise since the chain said it was 'evaluating the company's operational footprint' for its company-owned locations, which would result in a reduction of its footprint. Hooters also closed dozens of locations prior to bankruptcy in early 2024. Hooters' changes follow the closures of 15 locations of Bahama Breeze, a restaurant chain owned by Darden Restaurants. These chains typically cater to lower and middle-income families looking for a sit-down meal, but diners are abandoning these companies as their disposable income shrinks because of inflation. Consumer sentiment has been free-falling in recent months, and in May remained at a near-record low, according to the University of Michigan's closely watched indicator of how people are feeling about the economy. Closing 'poorly performing units can be better for the chain overall than trying to fix them' because pouring resources into rescuing the those locations can 'undermine the entire chain,' according to Maeve Webster, president of consulting firm Menu Matters. 'It's similar to rationalizing a menu: Better to eliminate items that aren't selling or rarely selling to improve the quality and consistency of what remains,' she recently told CNN. TGI Fridays, which aims to exit bankruptcy this summer, has also gradually closed locations while it navigates Chapter 11. The chain recently relaunched its menu for its remaining 85 US locations in hopes of sparking people's attention .
CNN
11 hours ago
- Business
- CNN
Hooters abruptly closes dozens of restaurants
Hooters has abruptly closed dozens of locations just a few months after the chicken wing chain filed for bankruptcy and proclaimed it wasn't 'going anywhere.' 'After careful consideration of what is needed to best position our company for the future, Hooters made the difficult decision to close certain company-owned locations,' a company spokesperson said in a statement to CNN. A specific list of closures wasn't released, but local reports reveal that about 30 locations were affected including several in Florida, Georgia, Michigan, North Carolina, South Carolina, Tennessee and Texas. The company said that it's 'here to stay, and by optimizing our business in support of our long-term goals, Hooters will be well-positioned to continue our iconic legacy under a pure franchise business model.' The 42-year-old chain, best known for its orange-clad, all-female wait staff, filed for bankruptcy in March. Hooters is selling all of its 100 company-owned restaurants to two franchisee groups that operate Hooters locations in the Tampa, Florida, and Chicago areas. However, the closures aren't a complete surprise since the chain said it was 'evaluating the company's operational footprint' for its company-owned locations, which would result in a reduction of its footprint. Hooters also closed dozens of locations prior to bankruptcy in early 2024. Hooters' changes follow the closures of 15 locations of Bahama Breeze, a restaurant chain owned by Darden Restaurants. These chains typically cater to lower and middle-income families looking for a sit-down meal, but diners are abandoning these companies as their disposable income shrinks because of inflation. Consumer sentiment has been free-falling in recent months, and in May remained at a near-record low, according to the University of Michigan's closely watched indicator of how people are feeling about the economy. Closing 'poorly performing units can be better for the chain overall than trying to fix them' because pouring resources into rescuing the those locations can 'undermine the entire chain,' according to Maeve Webster, president of consulting firm Menu Matters. 'It's similar to rationalizing a menu: Better to eliminate items that aren't selling or rarely selling to improve the quality and consistency of what remains,' she recently told CNN. TGI Fridays, which aims to exit bankruptcy this summer, has also gradually closed locations while it navigates Chapter 11. The chain recently relaunched its menu for its remaining 85 US locations in hopes of sparking people's attention .
Yahoo
29-05-2025
- Business
- Yahoo
Bahama Breeze restaurant closures: Map shows which locations are open and closed
Caribbean food chain Bahama Breeze abruptly closed 15 restaurants last week, or more than a third of the casual dining chain's total locations. The closures leave just 29 Bahama Breeze restaurants in operation around the U.S., with most of the locations in the Southeast and Mid-Atlantic regions. Darden Restaurants spokesperson Kiara Buckner confirmed the closures to USA TODAY after reports of shuttering restaurants began to emerge on Thursday afternoon, May 15, across multiple states. "We continually evaluate the performance of all our restaurants," Buckner said. "Closing a restaurant is a difficult choice because it impacts our team members and guests. However, we believe this is the right decision because it will allow Bahama Breeze to focus on its highest performing restaurants and strengthen the brand's overall performance." Customers were informed of the move via signs posted on the restaurant's front doors, according to reports from USA TODAY Network papers in Gainesville and Naples, Florida. "This location is permanently closed. Please visit a nearby sister location," read the sign outside of the Gainesville location, nudging guests to visit nearby Darden-owned restaurants Olive Garden and LongHorn Steakhouse. "We appreciate your business." The following map shows where Bahama Breeze locations have closed and where they remain open. Contributing: Kendall Little, Naples Daily News; Alan Festo, Gainesville Sun Fernando Cervantes Jr. is a trending news reporter for USA TODAY. Reach him at and follow him on X @fern_cerv_. This article originally appeared on USA TODAY: Which Bahama Breeze restaurants are open and closed? See locations map Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
29-05-2025
- Business
- Yahoo
Popular National Restaurant Chain Closes 15 Locations With 'No Warning'
With so many major businesses filing for bankruptcy and shutting down stores, there's yet another name to add to the list. Popular Island Grille, Bahama Breeze, has abruptly closed 15 locations nationwide, USA Today reported. 🎬 🎬 Darden Restaurants spokesperson KiaraBuckner confirmed the closures to the outlet after reports began surfacing that locations across multiple states were suddenly closed. Customers were informed of the move by signs and notes posted on doors of locations as they attempted to dine in. "We continually evaluate the performance of all our restaurants," Buckner said, adding, "Closing a restaurant is a difficult choice because it impacts our team members and guests." The statement also stood by the decision, noting it will "allow Bahama Breeze to focus on its highest performing restaurants and strengthen the brand's overall performance." Closures span locations in Florida, Illinois, Massachusetts, Michigan, Nevada, New Jersey, New York and Tennessee. Fans took to social media to voice their concerns and complaints, with one writing, "Why the hell is Bahama Breeze closed with no warning" as a second added, "am I the only one who's upset about Bahama Breeze? those empanadas were just different" and a third concluded, "the bahama breeze closest to me just abruptly closed. IM SO HURTTTTT" Others called it the "worst news" of the week, with another stating they "can't believe the shutdown," adding, "They had the best happy hour & the best pasta" and someone else expressing that they would miss the Bahamaritas the most. The sign at the Gainesville location reportedly read, "This location is permanently closed. Please visit a nearby sister location," suggesting the nearby Darden-owned restaurants Olive Garden and LongHorn Steakhouse. "We appreciate your business." Darden Restaurants also owns Cheddar's Scratch Kitchen, Chuy's, Ruth's Chris Steak House, Yard House, The Capital Grille, Seasons 52, and Eddie V's. You can see the full list of closures here. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Globe and Mail
26-05-2025
- Business
- Globe and Mail
Darden Restaurants: A Solid Performer or Just Average?
Explore the exciting world of Darden Restaurants (NYSE: DRI) with our expert analysts in this Motley Fool Scoreboard episode. Check out the video below to gain valuable insights into market trends and potential investment opportunities! *Stock prices used were the prices of April 23, 2025. The video was published on May 26, 2025. Should you invest $1,000 in Darden Restaurants right now? Before you buy stock in Darden Restaurants, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Darden Restaurants wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $639,271!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $804,688!* Now, it's worth noting Stock Advisor 's total average return is957% — a market-crushing outperformance compared to167%for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of May 19, 2025
