Hooters Is Going Bust

(AP) – Hooters is going bust. The U.S. restaurant chain, known for chicken wings and its skimpy “Hooters Girls” wait-staff outfits, has filed for bankruptcy protection. HOA Restaurant Group filed the motion for Chapter 11 protection Monday. Under the bankruptcy plan, Hooters will sell its 100 company-owned U.S. restaurants to a group of Hooters franchisees. Hooters is the latest legacy chain to run into financial trouble amid high food and labor price, growing competition and changing customer tastes. Last year, Red Lobster and TGI Fridays both filed for bankruptcy, and the Tex-Mex chain On the Border filed for bankruptcy last month.