hooters-australia-logoAustralia’s branch of the well-known American food chain Hooters has been placed into voluntary administration in order to give the company some “breathing space” and help the owner re-assess the business and his involvement moving forward.

The Group’s Administrators stress that it is business as usual for Hooters with its three Sydney restaurants and one Gold Coast restaurant continuing to trade over the administration period, which is expected to take up to two months.

The director has advised that legacy issues as well as changes in the conditions required to meet working visas has added to the challenges in recent times faced in the competitive hospitality industry.

The Administrators understand that the director is looking to negotiate with creditors via the formal process known as a Deed of Company Arrangement.

Veritas Advisory’s Principals David Iannuzzi and Vincent Pirina have been appointed administrators of Hooters Australia and said in a statement they are currently assessing the profitability of each restaurant with a view of going to the Global market and working with the American based Parent entity to maximise the ability in keeping the brand alive.

“The Voluntary Administration process is designed to provide an independent expert review (i.e. the Administrator) on the performance of a business with the view of maximising the return available for all creditors.” Iannuzzi said.
“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”

Expression of interest in the Hooters Group should be directed to Cameron Lee at Veritas advisory on 02 8999 9330 or This email address is being protected from spambots. You need JavaScript enabled to view it.

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