A slowdown at Hootersfirst noted over the summer now reportedly has the restaurant chain talking to advisers about how to address its $300 million debt load.
Between the lines: Hooters of America — known more for who serves its food than the food itself — is working with advisers who help companies navigate financial distress, Bloomberg reported today.
Its lenders, meanwhile, have reportedly tapped Houlihan Lokey, signaling that both sides are exploring options as the company's liquidity position worsens.
Flashback: In June, Hooters confirmed that it had closed a number of underperforming restaurants, blaming difficult market conditions. At least one report put that number at 40.
