Not so fun for Hooters

NO cash flow and an advertising debt of just $5995 are believed to have sunk the Australian arm of themed restaurant chain Hooters.

The parent company of the famous eatery has been placed into liquidation with more than $4.8 million in debts.

Among the debts is the $5995 to Triple M Sydney for radio advertising which tipped the holding company into failure. The station is seeking a court order to receive the money.

Hooters restaurants are famous for their buxom and skimpily dressed female staff. Last year the Mermaid Beach restaurant held a competition for Hooter girl of the year.

Liquidator Murray Godfrey from RMG Partners told the Australian Securities and Investments Commission that ‘poor strategic management’ had caused the company to liquidate.

Buyers are being sought for the two remaining restaurants in Parramatta, in Sydney’s west and the Gold Coast, which are still trading.

Help us deliver quality journalism to you.
As a free and independent news site providing daily updates
during a period of unprecedented challenges for businesses everywhere
we call on your support

A game changer? Aspiring to the new standard on workplace mental health
Partner Content
Work health and safety regulators have been more active in the area of mental health ri...
Aon
Advertisement

Related Stories

Palaszczuk outlines plan for quarantine-free travel into Queensland by Christmas

Palaszczuk outlines plan for quarantine-free travel into Queensland by Christmas

The Queensland Government has unveiled its roadmap for the easing o...

NSW eases border restrictions with ACT and Queensland

NSW eases border restrictions with ACT and Queensland

As the Australian Capital Territory leaves lockdown today and Queen...

Pfizer jab closer to approval for children, IDT to make new Monash vaccine

Pfizer jab closer to approval for children, IDT to make new Monash vaccine

Australian children aged five to 11 years of age could receive Pfiz...

Virgin Australia to lift flight capacity linking QLD tourism hotspots with SA, Tasmania

Virgin Australia to lift flight capacity linking QLD tourism hotspots with SA, Tasmania

Virgin Australia is set to add almost 150,000 more seats in flights...