Orlando-based Hawkers filing for bankruptcy but keeping restaurants open

Hawkers, an Orlando-based restaurant specializing in Asian street food, is filing for Chapter 11 bankruptcy to protect itself from a lender it describes as "hyper-aggressive. " The chain, which operates 15 locations across seven states, including St. Petersburg, will keep all restaurants open during the bankruptcy process. In early 2023, Hawkers entered a $23 million debt capital agreement to facilitate national expansion but soon faced threats from ABC Funding LLC, the lender, which intended to replace the restaurant's leadership. Filing for bankruptcy provides a legal shield against these threats and allows the company to negotiate more favorable loan terms.

Hawkers has reported notable sales growth, with a companywide increase of 18. 5% and a 26% rise in same-store sales this year. Bankruptcy attorney Scott Shuker noted that the situation is unusual since Hawkers has never missed a loan payment. The leadership remains optimistic about the company's future, expressing disappointment at having to take this route yet confident in the potential for a successful negotiation. The filing aims to stabilize the company and ensure uninterrupted operations while protecting the interests of employees and creditors.