Hooters of America, the fast-food chain known for its wings and scantily-clad servers, filed for Chapter 11 bankruptcy just before its 42nd anniversary. The filing, made in Texas, comes amid a challenging landscape for restaurants, with others like Red Lobster facing similar issues. The brand plans to sell some company locations to franchise owners and intends to operate as usual during bankruptcy, with hopes of emerging in approximately 90 to 120 days. This move underscores the broader struggles within the restaurant industry post-pandemic.
Hooters filed for Chapter 11 bankruptcy on Monday, just a day before its 42nd anniversary, amid struggles faced by the restaurant industry.
Despite the bankruptcy news, Hooters reassured customers that its restaurants will remain open and it aims to emerge from bankruptcy in 90 to 120 days.
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