Hooters Australia entered administration in July, but fresh overseas investment could save the tacky restaurant chain.
Chanticleer Holdings, owner and operator of multiple restaurant brands internationally and domestically, have closed a transaction to increase its investment in its five Hooters stores in Australia from 60% to 80%.
Chanticleer has increased ownership in the Parramatta, Penrith, Campbelltown, Surfers Paradise, and Townsville locations. Also read: Hooters Australia under voluntary administration
Led by Mike Messler, newly appointed chief operating officer of Hooters Australia, Chanticleer has implemented a new management team to oversee the region and its five locations.
"With this increased ownership position in Hooters Australia, we have heightened our control over the day to day operation of our restaurants in that country, which we expect to be beneficial both financially and operationally," said Mike Pruitt, CEO of Chanticleer Holdings.
"Mike, Ron and our new management team are already on the ground to engage with our guests, employees and business partners. We are excited about the opportunity to fully leverage the Hooters brand in this important growing market," added Pruitt.
