Hooters has filed for Chapter 11 bankruptcy protection, attributing its financial troubles to mounting debts. Despite the challenges, the company intends to remain operational and aims to resolve its issues within months. A group of original founders who own a significant portion of Hooters' U.S. locations plans to expand their operations. The chain has faced various hurdles, including failed sponsorship agreements and legal issues, but is focusing on restructuring to better serve its customers. Hooters reassures that its restaurants will continue to operate despite this financial setback.
Hooters has filed for Chapter 11 bankruptcy protection as it faces financial troubles and intends to restructure and continue operations.
The company aims to stay open and resolve its financial issues within months, with plans for original founders to buy more outlets.
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