- Hooters Australia has been placed in voluntary administration.
- But it’s business as usual at the three Sydney and one Gold Coast restaurants.
- Veritas Advisory is seeking buyers.
The Australia’s branch of the US restaurant food chain Hooters, known for its female waiters wearing tight white t-shirts, has been placed into voluntary administration again.
Administrators Veritas Advisory say legacy issues as well as changes in conditions required to meet working visas has added to challenges in the competitive hospitality industry.
But the administrators say it’s business as usual at the three Sydney and one Gold Coast restaurants.
David Iannuzzi and Vincent Pirina, principals at Veritas Advisory, say they are assessing the profitability of each restaurant and are working with the American based parent entity to keep the brand alive.
“The Voluntary Administration process is designed to provide an independent expert review on the performance of a business with the view of maximising the return available for all creditors,” says Iannuzzi.
“It gives Hooters some breathing space which in turn helps to stabilise and if necessary, restructure the business either with the current owner or a new management team or the opportunity for a sale to another player”
This isn’t the first time Hooters has been in administration in Australia.
In 2015, five Hooters restaurants in NSW and Queensland entered voluntary administration.
Deloitte Australia was then appointed to manage the administration of Hooters restaurants in Penrith, Campbelltown, and the flagship Parramatta store in NSW as well as stores on the Gold Coast and in Townsville.
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