Hooters of America is moving forward with plans to sell a substantial share of its corporate locations to a buyer group including its original founders.

The casual dining chain, which filed for bankruptcy in March 2025, is undergoing restructuring transactions that would allow a buyer group consisting of existing Hooters franchisees, including the original Hooters founders, known as Hoot Owl Restaurants LLC to acquire more than 100 corporate-owned restaurants.

Both parties still expect approximately 200 domestic Hooters restaurants and 60 international Hooters restaurants to remain open at the transaction's expected closing in August 2025, representing approximately $700 million in systemwide sales.

Upon closing of the transaction, Hoot Owl Restaurants anticipates operating approx

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