Main Lender Of Hooters In Vegas To Become Owner


Salon Staff
February 19, 2012 7:45AM (UTC)

LAS VEGAS (AP) — The main debt holder of Hooters hotel-casino in Las Vegas will become the resort's new owner after a bankruptcy auction drew no outside bidders.

Canpartners Realty Holding Co. IV will buy the 696-room property just east of the Las Vegas Strip under a sales plan approved Friday by U.S. Bankruptcy Judge Bruce Markell.

Advertisement:

The Las Vegas Sun and Las Vegas Review-Journal report Canpartners acquired the resort with a $60 million credit bid.

A March 30 closing date is scheduled.

Plans call for operations to keep running as usual during the transition, and for all Hooters creditors to be paid in full.

The hotel-casino filed for Chapter 11 bankruptcy reorganization and protection in August to block a foreclosure threatened by Canpartners.


Salon Staff

MORE FROM Salon Staff

BROWSE SALON.COM
COMPLETELY AD FREE,
FOR THE NEXT HOUR

Read Now, Pay Later - no upfront
registration for 1-Hour Access

Click Here
7-Day Access and Monthly
Subscriptions also available
No tracking or personal data collection
beyond name and email address

•••


Fearless journalism
in your inbox every day

Sign up for our free newsletter

• • •