Hendrick Motorsports has dropped longtime NASCAR sponsor Hooters after the company failed to pay its bills.
The sports bar, known for its chicken wings and scantily clad waitstaff, is in dire financial straits after 40 restaurants across the country closed.
In a statement, the team said Hooters could not meet the requirements to continue their partnership, which began in 2017.
“Due to these unfortunate and unexpected circumstances, and despite extensive efforts by both parties to find a workable resolution, it became necessary for Hendrick Motorsports to terminate the relationship,” the team said.
They also thanked the company for its contribution to ‘successes both on and off the track.’
Longtime NASCAR sponsor Hooters has been dropped by Hendrick Motorsports
The chain has sponsored the car of NASCAR Cup Series champion Chase Elliott since 2017
Hooters entered NASCAR in the early 1990s as a sponsor of late NASCAR champion Alan Kulwicki.
For the past seven years, Hooters has sponsored the No. 9 car driven by NASCAR Cup Series champion Chase Elliott, who won the drivers’ title in 2020.
A spokesperson for the Florida restaurant chain previously confirmed that the company had suddenly closed 40 locations last month.
“Like many other restaurants under pressure from current market conditions, Hooters has made the difficult decision to close a number of underperforming locations,” they told DailyMail.com.
The company is facing financial problems due to the closure of 40 restaurants across the country
“Hooters has made the difficult decision to close select stores,” the company said.
“We look forward to continuing to serve our guests at home, on the go, and in our restaurants in the U.S. and around the world.”
Hooters will have about 300 restaurants worldwide after the closures, down from 333 in 2018, Techonomic said.
The company is not expected to be in as serious financial trouble as rival Red Lobster, which recently filed for bankruptcy.
Bosses said the 41-year-old brand was “still very resilient and relevant” and highlighted a new range of Hooters frozen foods being sold in supermarkets across America.