Casual dining chain Hooters of America has filed for bankruptcy in Texas, selling 151 company-owned restaurants to a group backed by its founders. The plan aims to reinforce the firm’s financial foundation and take the brand “back to its roots.” Despite struggling with rising costs and customer spending habits, CEO Sal Melilli assured that Hooters’ renowned restaurants will stay open during the process.
The deal includes 14 popular outlets operated by successful franchisees who promise to make the chain more family-friendly. The rescue plan is expected to be completed within four months, pending US bankruptcy judge approval. Founded in 1983, Hooters is known for its iconic “Hooters Girls” staff and serving classic American bar food.
Source: https://www.bbc.com/news/articles/cgjl487qg5lo