Hooters has filed for bankruptcy in Texas to restructure its finances, enabling the founders to acquire the company-owned restaurants from the private equity firm that owns it. Despite the filing, Hooters restaurants will continue to operate throughout the process, ensuring that the chain's legacy of chicken wings and distinctive service remains intact. The restructuring could lead to a complete franchise model for all locations. In a notable shift, CEO Neil Kiefer plans a rebranding strategy dubbed 're-Hooterization' that may retire the chain's controversial bikini nights, hinting at a significant evolution for Hooters in the competitive restaurant industry.
Hooters, the restaurant chain known for its chicken wings, its all-female serving staff in revealing outfits, has filed for bankruptcy to restructure its operations.
Under the bankruptcy agreement, a group that includes the company's founders will buy the company-owned restaurants to keep many open and operational during the process.
Neil Kiefer, the CEO of an independent company running original Hooters restaurants, announced plans for a 're-Hooterization,' which would include a rebranding effort away from bikini nights.
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