NASCAR team DROPS Hooters as sponsor after following the threats of..

Hendrick Motorsports has dropped long-standing sponsor Hooters after they failed to meet their financial requirements.
The restaurant chain had sponsored the #9 car, driven by NASCAR Cup Series champion Chase Elliott since 2017.

Reports suggest that Hooters have closed more than 40 locations in the US recently, outlining some financial issues.They first sponsored a NASCAR team back in the early 1990’s, when its logo was on the car of champion Alan Kulwicki.
What was Hendrick Motorsports’ response?

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“Hooters has been a valued partner of Hendrick Motorsports since 2017, contributing to our shared successes both on and off the track,” the team said in a statement.“In recent months, however, Hooters has not been able to meet its business obligations to our organization.”Due to these unfortunate and unexpected circumstances, and despite extensive efforts on both sides to identify a workable solution, it became necessary for Hendrick Motorsports to end the relationship.”Addressing the reason for closing stores, Hooters told Nation’s Restaurant News: “Like many restaurants under pressure from current market conditions, Hooters has made the difficult decision to close a select number of underperforming stores.”