Hooters files for Chapter 11 bankruptcy

Hooters declared Monday that it applied to Chapter 11, but that doesn’t mean it’s out of business.

Monday evening published in a press release Picture restaurant network He explained that it entered the Reconstruction Support Agreement (RSA) “Unanimous support for his main stakeholders.” Chapter 11 Protection of bankruptcy allows businesses to rebuild their debts while they continue to operate.

The deal aims to “implement the sale transaction, which will contribute to the continuous business activities under new property.”

“Especially the company has reached a fundamental agreement with the very experienced group of current patents (” Buyer Group “) to buy and operate certain places of the company.

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Hooters applied to bankruptcy in Chapter 11. (Raymond Boyd / Getty Images)

“The buyer’s group consists of two operating Hooters Franchise (including Hooters Inc., the original Hooters, which are currently owned and more than 30% of internal preferential Hooters locations.

Rumors come after more than a month when February returned Hooters discussed bankruptcy applicationA number of Bloomberg quoted debt, liquidity problems and fewer customers as the main reasons for the move.

In the press release on Monday, America’s Huter Sal Meli promised that Hooters restaurants will “stay here.”

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The General Director of Hooters promised the chain “to stay here.” (Brett COOMER / HOUSTON CHRONICLE / Getty Images)

“Today’s statement is an important event in strengthening Hooters’ Financial Foundation Foundation and will continue to provide hospitality and delicious food to our customers and communities,” Meli’s statement said.

“First of all, I have seen the incredible value and opportunities our brand is the title of life, and I am looking forward to keeping that momentum better.”

Hooters added that it will remain open to customers, and restaurants will “continue to operate in the ordinary way of business” 11. “

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Hooters referred to debt, liquidity problems, and fewer customers as basic causes of bankruptcy according to Bloomberg. (Paul J. Richards / AFP / Getty Images)

“Hooters are part of the company’s broader business transformation and planning, as part of its financial reconstruction process so that its resources are partitioned in its strongest assets. “The current government’s privilege actions, including its locations outside the United States, are not affected by the Chapter 11 and will continue to operate by the company’s privilege and license partners.”