Hooters of America, LLC, owner of the Hooters restaurant brand, has filed for Chapter 11 bankruptcy as part of a strategy to restructure its business model. This shift aims to transition the company from a primarily company-owned restaurant chain to a franchisee-owned chain, with a significant focus on franchising. The restructuring specifically affects the company's locations in the United States, sparing international outlets. The plan involves selling current company-owned locations to a group of franchisees, including the original cofounders' franchisee, Hooters Inc.
Hooters of America, LLC has filed for Chapter 11 bankruptcy protection to restructure and switch to a franchisee-owned restaurant model.
The restructuring will allow Hooters to move from a company-owned chain to predominantly franchisee operations, potentially increasing financial stability.
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