Hedwig’s Las Vegas Top Tier, of California, failed to make a $500,000 nonrefundable payment on Friday. Which lead Hooters to cancel the sale. Hedwig’s blamed the market for the problem.

In March, Hedwigs planned to spend $225 million to buy the property and spend $130 million on renovations and a name change. Hedwigs investment group has put up $6 million in nonrefundable fees and other costs toward the purchase, too bad for Hedwigs, really good for Hooters.

According to the Review-Journal, Hooters president and minority share owner Richard Hessling said he’ll either continue to operate, accept another sale offer, or look at expanding, but declined to discuss the Hedwigs deal further.

Hooters put $130 million into renovating the former Hotel San Remo before opening in February 2006.