Investor firm buys restaurant chain

CHICAGO -- Chanticleer Holdings Inc., an investor in small companies, has agreed to buy Hooters Inc., Hooters Management Corp. and their related restaurants for about $55.1 million. Charlotte, N.C.-based Chanticleer said Tuesday while there are 433 restaurants in 28 countries, Hooters Inc., which sold its trademarks and other proprietary rights to Hooters of America Inc. in 2001, owns 22 and those are the ones Chanticleer will acquire. The 22 are in Florida, Chicago and Manhattan. "Chicago is the number one market in the U.S. for Hooters," Chief Executive Officer Mike Pruitt said.