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Hooters files for bankruptcy and here's what that means for Toronto location

U.S.-based restaurant chain Hooters, which is known for its chicken wings and all-female serving staff wearing revealing outfits, has officially filed for bankruptcy protection, and here's what that means for the chain's only Toronto location. On Monday, Hooters of America (HOA) Restaurant Group filed the motion for Chapter 11 protection in the North Texas Bankruptcy Court in Dallas.The company has been facing mounting financial challenges, and as a result, announced that it has entered into a restructuring support agreement to effectuate a sale transaction that will allow for the continued operation of the business under new ownership. The company has reached an agreement with a group of current franchisees, called the Buyer Group, to acquire and operate certain company-owned Hooters locations. The group is comprised of two existing Hooters franchisees, who collectively currently own and operate over 30 per cent of the domestic franchised Hooters locations, including...


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