💨 Abstract

Hooters, the American restaurant chain known for its skimpily dressed waitresses, has filed for bankruptcy and plans to sell 100 US locations. The company is signing a restructuring support agreement with a Buyer Group that already owns and operates more than 30% of franchised Hooters restaurants in the US. After the Chapter 11 process, all Hooters locations in the US will be owned by franchisees.

Courtesy: metro.co.uk

Summarized by Einstein Beta 🤖