Ropes & Gray is representing Hooters of America, LLC, an iconic casual dining and sports entertainment chain, in connection with its chapter 11 cases, captioned In re Hooters of America, LLC pending in the United States Bankruptcy Court for the Northern District of Texas. The chapter 11 filing was announced in a press release on March 31.
The proceedings involve the restructuring of approximately $380 million in funded debt. The company commenced these chapter 11 cases with a Restructuring Support Agreement with near unanimous support from its key stakeholders, providing for $40 million of debtor-in-possession financing from certain of its existing lenders and $35 million in new capital.
The team includes business restructuring partner Chris Dickerson, finance partner Patricia Lynch and counsel Brett Pearlman and business restructuring associate Rahmon Brown.
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