Hooters Australia Remains Open For Business In Spite Of Voluntary Administration

If you want to watch the latest televised sports events while socializing with your friends, the best place to go to is sports bar in Helensburg that offers premium facilities. Sports bars have lots of advantages from the large LCD screens to a menu of bar favourites. You can order a root beer float while listening to the arguments at the next table regarding the performance of the rugby team.

However, Australia’s sports bars are staggering from the latest blow. Hooters Australia is being placed under voluntary administration less than 2 years after its owner promised to breathe fresh life into the controversial chain. Hooters that became widely known for scantily-clad waitresses or Hooters girls has strived to gain acceptance in the Australian market ever since it opened the first location more than 10 years ago.

Based on the documents that were submitted with the corporate regulator, Veritas Advisory was appointed as administrator for Hotr Australia Pty Ltd and its subsidiaries that operate Hooters Restaurants in Parramatta, Penrith, Campbelltown and the Gold Coast.

Hooters was placed under voluntary administration so that it can have breathing space and the owner can make a reassessment of the business and his involvement. The restaurants will continue to be open for business during the administration period that may last for 2 months. Voluntary administration is a process that is designed to provide an independent expert review to determine business performance with the goal of maximizing the return available to creditors.

In 2015, Hooters was placed under voluntary administration but it was rescued by US listed restaurant chain, Chanticleer Holdings. However, Chanticleer reversed its decision and announced the intention to leave the country. Local chairman Sydney Borg bought 80% of the stake in the local business which is worth about $9 million. Borg promised to clean up the mess while continuing with the building of the business and expansions to new locations.

Many people are passionate about sports. This is proven by the crowd that goes to sports bar in Helensburg to watch matches. The excitement is different when you share it with a happy crowd that shares your passion.