YOUR BUSINESS AUTHORITY
Springfield, MO
YOUR BUSINESS AUTHORITY
Springfield, MO
The Hooters restaurant chain has filed for Chapter 11 bankruptcy protection.
Hooters franchisees will buy 100 company-owned restaurants in the United States through the bankruptcy proceedings. The franchisees reportedly include Hooters' founders.
“For many years now, the Hooters brand has been owned by private equity firms and other groups with no history or experience with the Hooters brand,” said Neil Kiefer, CEO of franchise group Hooters Inc., in a statement. “As a result of these transactions, the Hooters brand will once again be in the hands of highly experienced Hooters franchisees, and we will be well-positioned to return this iconic brand to its historic success.”
Read more from The Associated Press.
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