Hooters reportedly working with creditors to restructure $300 million debt

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The looming bankruptcy for Hooters has one NBA All-Star worrying.

Phoenix Suns guard Devin Booker posted on X one day after it came out that the restaurant chain could be heading to Chapter 11.

“Plz don’t go @Hooters,” Booker tweeted after the team’s win over the Chicago Bulls on Saturday.

Devin Booker of the Phoenix Suns looks on during Game 3 of the Western Conference playoff semifinals against the Denver Nuggets on May 5, 2023, at the Footprint Center in Phoenix. (Barry Gossage/NBAE via Getty Images)

Booker wasn’t the only one nervous about the restaurant’s future, with many posting to social media, including golf influencer Paige Spiranac.

“Not on my watch,” Spiranac tweeted after seeing the news.

Hooters of America is reportedly working with creditors to restructure its debt of $300 million through a Chapter 11 filing.

The chain is working with the law firm Ropes & Gray to prepare for a filing, per Bloomberg, but the plans are not final.

(Ernst Peters/The Ledger)

Hooters has closed several locations throughout the country as its business declined. Around 40 locations have shut their doors, but none where Booker is in Arizona.

Bloomberg also reported the company sold around $300 million in asset-backed bonds in 2021.

While Hooters battles to stay afloat, Booker is hoping to do the same with his Suns this season.

Phoenix is 27-29 on the year despite a talented roster, and if the season ended today, it wouldn’t make the Play-In Tournament because it is 11th in the Western Conference.

Devin Booker of Team United States looks on during practice ahead of the Paris Olympic Games on July 24, 2024, in Lille, France. (Gregory Shamus/Getty Images)

The 28-year-old is averaging 26.0 points, 6.7 assists and 4.0 rebounds in his 10th NBA season, all of which have been in Phoenix.