Hooters Bankruptcy Plan Would Return Brand to Former Executives

Hooters of America and some of its creditors are considering a potential bankruptcy plan that would see control of the brand returned to former executives and the one-time parent of the chain, according to people with knowledge of the situation.

Hooters of America’s largest franchisee, an entity tied to the original Hooters business, would team up with creditors to control the company, said the people, who asked not to be identified discussing confidential discussions.

The franchisee, HMC Hospitality Group, is run by a former Hooters chief executive officer and associate of the chain’s founders, the people said. Hooters was started ...