Having the “largest group of Hooters Girls in any one place on the planet” wasn’t enough to keep the Las Vegas Hooters Casino Hotel from a Chapter 11 bankruptcy filing last Monday, but chicken wing and cleavage lovers will still be able to find the busty waitresses at local joints, reports The Wall Street Journal.
“This action in no way affects the operation of the more than 430 Hooters Restaurants in 44 states and 27 countries,” hotel and casino owner 155 East Tropicana LLC released in a statement on Monday.
The restaurant chain, famous for its orange-and-white clad servers and chicken wings, currently has seven locations operating in Arizona, including three in Phoenix alone.
The property owner had the exclusive license to use the popular Hooters brand on its hotel and casino, but its financial problems did not directly affect Atlanta-based Hooters of America LLC, according to The Journal.
Instead, its bankruptcy filing in U.S. Bankruptcy Court details the impact of the economic downturn that has affected Las Vegas casinos and hotels up-and-down the strip.
Chapter 11 bankruptcy filings allow corporations to restructure their outstanding debts in order to become profitable again. The casino will continue to operate under current management through the restructuring process, but all important business decisions must be made with the approval of a bankruptcy court.
With "declining hotel and casino revenues based on increased price and promotional competition...reduced consumer spending, a tightened credit market, and an overall weakened economy," the Las Vegas Hooters Casino Hotel was forced to throw up the white flag, minus the iconic owl, with a Chapter 11 bankruptcy filing, but it looks like in Phoenix, the wings and waitresses are here to stay, for now.
Related Resources:
ShareThis
