**Hooters, the well-known restaurant brand celebrated for its chicken wings and unique serving approach, has officially filed for bankruptcy while announcing that all restaurants will continue to operate under new ownership arrangements, keeping the spirit of the brand alive in the face of financial challenges.**
**Hooters Enters Bankruptcy, Restaurants To Remain Open Under New Ownership**
**Hooters Enters Bankruptcy, Restaurants To Remain Open Under New Ownership**
**Iconic restaurant chain Hooters files for bankruptcy but ensures business continuity.**
Hooters, the beloved chain recognized for its iconic chicken wings and distinctive serving staff, has officially filed for bankruptcy protection in a Texas court, a move announced by the company on Monday. Despite concerns regarding the chain's financial health, Hooters has assured customers that its restaurants will remain open throughout the bankruptcy proceedings.
Under a new agreement, a consortium including Hooters’ original founders, who operate approximately one-third of the franchised locations nationwide, will acquire the company-owned restaurants from the private equity firm currently overseeing the chain. Hooters expressed confidence in their restaurants' future, declaring, “Our renowned Hooters restaurants are here to stay.”
The chain is famous not only for its Buffalo chicken wings but also for its servers dressed in eye-catching uniforms. As of now, Hooters owns and operates over 400 locations across 42 states and 29 countries; however, most of these establishments are independently run franchises, which will not be impacted by the bankruptcy process. Post-bankruptcy, it is expected that all locations will shift exclusively to franchise ownership.
Rumors of bankruptcy surfaced earlier, notably reported by Bloomberg News, particularly in light of the summer closure of numerous restaurants. Additionally, Neil Kiefer, CEO of an independent group managing Hooters restaurants, suggested a potential rebrand, referred to as “re-Hooterization,” which might include discontinuing specific themed events like “bikini nights.”
In essence, while Hooters navigates this complex financial landscape, it promises to maintain its vibrant dining atmosphere, alluding to a bright future that keeps “hang time” going strong.
