Hooters said Monday that it's closing 'a select' number of underperforming restaurants, the latest casual dining chain to announce shutdowns amid broader industry woes. Hooters said that it was 'under pressure from current market conditions,' but added that new restaurants continued to open domestically and internationally. It did not respond to an inquiry about the exact number of locations affected.
Yet this is belied by a wave of closures at casual dining giants like Applebees, which in May said it would shutter at least 35 locations this year; Red Lobster, which is facing bankruptcy; Cracker Barrel, whose stock is down 43% this year; and Outback Steakhouse and its sister chains Carrabba's Italian Grill and Bonefish Grill, which have seen 41 closings this year.
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