Last Updated Nov 16, 2009 2:57 AM EST
A quick look at 155 East Tropicana's past, and I noticed that on March 31 the company decided not to pay interest on a loan and could be placed in default. The note to investors also said the company had $8 million in cash for operations and reserves. I suppose with the most recent loss of $5.37 million and dodging defaulted loans is enough to push a company into seriously considering bankruptcy.
Let's face it, the Hooters Hotel is off the Strip and its biggest claim to fame is young waitresses in tight tank tops and shorts. In Las Vegas, where topless waitresses and strip clubs abound, it may not be enough.