The owners of five New York state Hooters franchises want to pull the plug on the restaurants’ bankruptcy cases, saying there is “no reasonable likelihood of rehabilitation.”
The owners asked a Boston bankruptcy judge to dismiss the restaurants’ Chapter 11 cases, according to court papers filed Friday.
They said in court papers they’ve “concluded that there is no reasonable likelihood of rehabilitation in Chapter 11 and that conversion to Chapter 7 will confer no benefit upon unsecured creditors.”
The New York restaurants are controlled by Massachusetts businessmen Michael J. Walsh and Paul Kraemer, both of Sudbury, Mass. They also own New England Wings Inc., a Vermont company that controls the seven remaining Hooters franchises located in New England.
Four of the Hooters, a restaurant chain known for its spicy wings and scantily clad waitresses, have already been shuttered. A fifth, in Syracuse, N.Y., is sparring with its landlord over back rent but intends to keep its doors open and “to engage its landlord and other creditors in the hopes of staying in business.”
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