Delightfully tacky, yet overvalued
February 24, 2010 11:14 AM Subscribe
Rumor has it Hooters is for sale and could fetch up to $250 million. After the death of the chairman Robert H. Brooks about four years ago the company has been run by his son Coby who recently was on an episode of Undercover Boss. A legal battle erupted over Coby's widower step-mom claiming for a larger share of the inhertance under South Carolina's elective share law forcing the company to take on outside investors. Now the company looks to raise cash quick with a defunct airline, casino in default, and countless lawsuits plaguing its profitable salad dressing manufacturing, credit card, and franchise operations.
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