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Hooters closes River North location after 35 years

Hooters closes River North location after 35 years

Money Moves Chicago, IL local

Sports bar chain says development and neighborhood changes ended its run at 660 N. Wells Street

Yesterday: River North Hooters closes after 35 years

Overview

Updated 1 hour ago

The Hooters at 660 N. Wells Street in Chicago's River North closed its doors in October 2026 after 35 years. A company spokesperson cited "increasing development and neighborhood changes" in the decision.

The closure follows a 2025 bankruptcy filing by the chain's parent company, which already forced dozens of locations nationwide to shut. Nearby River North businesses True Food Kitchen and Sugar Factory have also closed in recent months.

Why it matters

The redevelopment that ended Hooters' 35-year run is still underway, and other longtime River North businesses face the same pressure.

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Key Indicators

35
Years the Wells Street location operated
Opened 1991, closed October 2026.
15
Hooters-affiliated locations remaining in Chicago area
13 franchise restaurants plus 2 Hoots Wings, per the company.

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Organizations Involved

Timeline

1991 October 2026

3 events Latest: Yesterday
  1. River North Hooters closes after 35 years

    Latest Closure

    The Wells Street location shuts, citing development and neighborhood changes.

  2. Hooters of America files for bankruptcy

    Bankruptcy

    Parent company's bankruptcy filing leads to dozens of store closures nationwide.

  3. Hooters opens in River North

    Opening

    The sports bar opens at 660 N. Wells Street.

Scenarios

1

Hooters exits the Chicago market entirely

Unlikely Resolves by Oct 22, 2028

Discussed by: Chicago business reporters tracking the chain's post-bankruptcy retrenchment

If development pressure and rising costs hit the remaining franchise locations the way they hit River North, the chain could close more stores. The company says its other Chicago-area locations remain open, but real estate costs in the region continue to climb. Another bankruptcy-related closure wave would signal a full local exit.

2

New tenant or development announced for 660 N. Wells Street

Likely Resolves by End of 2027

Discussed by: Real estate reporters at Crain's Chicago Business and Block Club Chicago

The site sits on a busy commercial corridor in one of Chicago's densest neighborhoods. With the building now empty, a landlord is likely to market the space to a new restaurant or retail tenant, or sell it for redevelopment. River North has seen sustained development in recent years, so the vacancy probably won't last long.

3

Remaining Chicago Hooters locations hold steady

Possible Resolves by Oct 22, 2027

Discussed by: Hooters corporate communications

The company has said its other Chicago-area locations are unaffected and remain open. If the post-bankruptcy restructuring holds and franchisees keep their leases affordable, no further local closures would follow. The River North closing could be a one-off rather than the start of a wider pullback.

Historical Context

2 moments from history that rhyme with this story — and how they unfolded.

May 2024

Red Lobster bankruptcy (2024)

Red Lobster filed for Chapter 11 bankruptcy after years of losses, including a costly all-you-can-eat shrimp promotion. The chain closed about 100 locations within weeks of filing.

Then

Red Lobster's assets were sold, and the chain reemerged under new ownership with far fewer restaurants.

Now

The case became one of the largest casual dining bankruptcies in recent years and a warning about relying on discount promotions.

Why this matters now

Hooters is following the same pattern: bankruptcy, mass closures, then survival with a smaller footprint.

November 2024

TGI Fridays bankruptcy (2024)

TGI Fridays filed for Chapter 11 after closing dozens of locations earlier that year. The chain cited high operating costs and changing consumer habits.

Then

The company sold its corporate operations to new owners and emerged from bankruptcy as a much smaller brand.

Now

The restructuring became a template for legacy casual dining chains facing similar pressure.

Why this matters now

Both chains show how once-ubiquitous sit-down restaurants must shrink to survive shifting dining habits and rising costs.

Sources

(2)