Atlanta-based Hooters files for bankruptcy, says it's not going anywhere
Atlanta-based Hooters has filed for Chapter 11 bankruptcy.
But the bar restaurant chain known for its female wait staff in orange shorts says it isn't planning to go anywhere.
Hooters plans to sell all of its 100 company-owned restaurants to two franchisee groups.
The company has come under fire in recent years including several lawsuits for racial and gender discrimination.
Last year, Hooters closed dozens of restaurants because of rising food and labor costs.
The Wall Street Journal reports the chain plans to return its original founders as part of a new management team in its reorganization.
The company expects to emerge from Chapter 11 in approximately 90-120 days.
'Our renowned Hooters restaurants are here to stay. Today's announcement marks an important milestone in our efforts to reinforce Hooters' financial foundation and continue delivering the guest-obsessed hospitality experience and delicious food our customers and communities have come to expect,' Sal Melilli, Chief Executive Officer of Hooters of America said on Monday.
The company closed some of its underperforming stores last year.
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