The Hooters Hotel Casino in Las Vegas could be auctioned off in a bankruptcy sale, according to local reports.
The property, which is located just off the Las Vegas Strip, filed for Chapter 11 bankruptcy protection in August to stave off a foreclosure threatened by major shareholder Canpartners Realty.
The two parties have failed to see eye to eye over the future of the property, with Canpartners arguing that a reorganisation is a waste of time and Hooters management calling for time to balance the books.
Now, it seems, the two have finally come to an agreement. During a bankruptcy court hearing this week, the pair announced plans to auction the property by February 17, the Las Vegas Sun reports.
Details of the sale have yet to be finalised.
All hotel and casino operations at the 696-room property have continued during the reorganisation process and the decision to file for bankruptcy protection did not impact the Hooters Restaurants franchised throughout the US by Atlanta’s Hooters of America.
