Two Austin restaurateurs have pumped some much-needed cash into Hill’s Café, keeping the iconic restaurant and music venue from shutting down.

Brothers Austin and Ellis Winstanley, who head up locally based Tradelogic Corp., say they learned about the restaurant’s money woes after reading a story in the American-Statesman. Less than a week later, they’d become majority owners, unveiling plans to add more than 20 new employees and expand Hill’s Café’s hours of operation.

“We’re very excited to be a part of such a special place and glad we had the opportunity,” Ellis Winstanley said.

Just a few weeks ago, the outlook seemed grim for the restaurant, which is at 4700 S. Congress Ave. in South Austin. Austin radio personality Bob Cole, who was then Hill’s Café’s majority owner, said he’d depleted his personal savings in an attempt to keep the doors open.

In 2012 alone, Cole said, Hill’s Café lost in excess of $500,000 and the building’s landlord was owed thousands of dollars in overdue rent.

“I had resigned myself to the fact that it would probably close,” said Cole, who hosts the morning show on 98.5/99.3 KOKE-FM. “There were so many land mines that needed to be addressed.”

That changed when the Winstanley bothers came knocking.

They assumed Hill’s Café’s existing debt and are going to work to pay the past due rent, Cole said. While no longer the majority owner, Cole said he still has a stake in Hill’s Café.

“They’ve been a godsend for me,” he said. “The restaurant is saved.”

Hill’s Café, which is known for its chicken-fried steak and other home-style dishes, isn’t the only eatery Austin and Ellis Winstanley have bailed out over the years. They got their start while attending the University of Texas, buying Star Seeds in 2001.

In 2002, they said they came to the rescue of Cain & Abel’s.

“Both were in disrepair and losing considerable amounts of money,” Ellis Winstanley said.

The Winstanley brothers also acquired El Arroyo and the Tavern. This year, the Winstanley brothers will reopen Artz Rib House, rechristening it as Abel’s Rib House.

“Our youngest concept is 33 years old,” Ellis Winstanley said. “We feel like we are stewards of the brands, carrying them forward for others to enjoy. That’s rewarding.”

The new majority owners have a few changes planned for Hill’s Café, he said. It will be open seven days a week from 11 a.m. to 11 p.m. Previously, it had been closed Sundays and Mondays. It also shut down for a few hours each day between lunch and dinner.

The expanded hours mean additional employees will be needed, Ellis Winstanley said. He’s planning to add 22 workers.

A new 30-year lease has been signed as, well

“We intend to show the community all that Hill’s has to offer,” he said. “We believe the backyard is very special and that there is a huge potential for events. Infrastructure, systems and training will be behind-the-curtain priorities, as well.”

Combined, Cole says the changes should keep Hill’s Café in business for years to come.

“These guys are good,” he said. “It’s positioned for the future – locked and ready for the next 30 years.”