The company withdrew its filing after settling a lender dispute
Hawkers Asian Street Food has withdrawn its Chapter 11 bankruptcy filing from September after settling a lender dispute.
The Orlando Business Journal first reported the deal, noting that Hawkers’ attorney Scott Shuker of Shuker & Doris PA filed a consensual loan restructure with lender Summit Partners. The deal was approved on Jan. 29, allowing Hawkers to exit bankruptcy.
The deal marks the end of a tumultuous several months in which the 15-unit casual dining chain filed for bankruptcy protection to, “maintain operational control of the company and preserve the integrity of its brand as to protect from an overreaching lender.”
In a statement in September, Shuker said the chain entered into a debt capital agreement last year with an intention of growing the brand “into a household name.”
According to Technomic, Hawkers grew its sales by 18.5% from 2022 to 2023, the last period available, ending the year with $66.1 million. Its footprint grew by 7.7% to close 2023 with 14 locations. The chain plans to open five new locations in addition to its existing 15, which remain open in Florida, Georgia, North Carolina, Tennessee, Maryland, Virginia, and Texas.
Hawkers was started in 2011 by four cofounders — Kaleb Harrell, Allen Lo, Wayne Yung, and Kin Ho — who were childhood friends. Its menu features offerings such as dim sum, noodles, rice, wings, skewers, and specialty cocktails.
"Hawkers is solid, and the bankruptcy isn't a sign of company weakness. They have a separate company — a commissary — that makes their food, which wasn't part of the Chapter 11 case," Shuker told the Orlando Business Journal. "That's a key innovation that helps the brand thrive."
Contact Alicia Kelso at [email protected]
