Quote:
Originally Posted by Cuervo
I am not a Hooters patron, and I heard they have financial problems.
This is what I found on the internet:
"Hooters filed for bankruptcy to address $376 million in debt and plans to sell over 100 corporate-owned locations to franchisees. The company is also closing some underperforming locations. Despite these changes, Hooters intends to remain a viable business and is focusing on a pure franchise model."
This is not a good sign, if it was me, I would not be in a rush to open a Hooters.
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There are 3 different companies involved and the original guys that opened Hooters are the ones buying it back from the company that is filing bankruptcy. They are also the ones opening the new locations. Banks don't know how to run a restaurant and that's the same reason that Red Lobster went into bankruptcy. They strip the meat off companies and leave the mostly dead carcass to pay creditors pennies on the dollar. I'm glad the original guys care enough to revive Hooters.