Hooters of America files for bankruptcy to address $376m debt
Hooters of America, the well-known restaurant chain famous for its wings and iconic owl logo, has officially filed for bankruptcy in an effort to tackle its staggering $376 million debt.
Hooters of America, which operates over 420 locations across 38 states, has been facing financial challenges exacerbated by the impact of the COVID-19 pandemic on the restaurant industry. The company's Chapter 11 bankruptcy filing aims to restructure its debt obligations and position itself for future growth.
The decision to file for bankruptcy comes after efforts to negotiate with creditors and explore other financial options proved unsuccessful. In a statement, Hooters of America expressed confidence in its ability to navigate the bankruptcy process while continuing to serve its customers.
The restaurant chain assured customers that its operations would continue uninterrupted during the restructuring process. Hooters of America is known for its casual dining atmosphere, featuring a menu that includes not only its signature wings but also burgers, salads, and other pub-style fare.