
HOA Restaurant Group filed the motion for Chapter 11 protection on Monday in the North Texas Bankruptcy Court in Dallas.
The company ran into financial woes as its debts mounted, but it says it intends to stay open and resolve its troubles within months. A group of the company’s original founders that own almost a third of Hooters’ US locations, including about half of its biggest volume restaurants, plans to buy and operate more of the outlets, Hooters said in a news release.