Hooters Restaurant Chain Seeks Debt Advice as Business Falters

Hooters of America is huddling with lenders and advisers amid revenue declines that pushed the restaurant chain to shutter several of its locations, according to people with knowledge of the talks.

Hooters, famous for its chicken wings and skimpy server uniforms, is getting guidance from Accordion Partners and law firm Ropes & Gray on how to improve business and address its debt load as foot traffic slows and its liquidity dwindles, said the people, who asked not to be named discussing confidential matters.

Some of Hooters’ debtholders have tapped Houlihan Lokey Inc. for advice, the people said. Representatives for Hooters ...