Hawkers Asian Street Food, a 15-unit casual-dining chain based out of Central Florida, announced Monday that it has filed for Chapter 11 bankruptcy protection “in order to maintain operational control of the company and preserve the integrity of its brand as to protect from an overreaching lender.”
According to a press release put out through the company’s attorney, R. Scott Shuker of Shuker & Dorris, P.A., the restaurant early last year “entered a debt capital agreement with the intention of growing the brand into a household name across the United States.”
The plan gained plenty of traction: According to the Technomic Top 500, in 2023, the restaurant boasted systemwide sales growth of 18.5% and opened one store for unit growth of 7.7%. Nation’s Restaurant News highlighted the brand’s success earlier this summer.
The company claims, however, that the lender has in the past 60 days revealed an intention to gain control of the company, though Hawkers said it has never missed a payment.
“This filing will allow Hawkers to continue normal, uninterrupted operations and vendor payments while company control is re-stabilized in a way that secures a thriving and successful future for Hawkers and its dedicated team,” the press release said.
Hawkers was started in 2011 by four cofounders — Kaleb Harrell, Allen Lo, Wayne Yung, and Kin Ho — who were childhood friends.
“Hawkers Asian Street Food’s goals remain clear and steady — protect the guest experience at every turn, prioritize the safety and well-being of its team members and stakeholders, and continue growing the brand in a sustainable and upstanding manner,” the company said. “While Hawkers hopes to negotiate a favorable outcome with said lender, the future of the company remains bright, and the team looks forward to welcoming guests for their Hawkers favorites for decades to come.
Hawkers has a menu highlighting Asian street food such as dim sum, noodles, rice, wings, and skewers, as well as specialty cocktails. Its restaurants are in Florida, Georgia, North Carolina, Tennessee, Maryland, Virginia, and Texas.
