It's the latest restaurant chain to undergo restructuring, which will see it move from mostly company-owned to franchisee-owned locations.

A group that includes the restaurant’s founders will buy restaurants from the private equity firm that owns many locations of the chain.

Another national restaurant chain is filing for bankruptcy protection as Hooters says it is looking to sell all of its company-owned locations. On Monday, the restaurant chain known for its provocatively dressed all-female waitstaff and its chicken wings,

Hooters has officially filed for Chapter 11 bankruptcy. Their CEO hopes to redeem the beloved establishment with a more family-friendly approach moving forward. Per Men's Journal, get ready for more restaurant and less "breastaurant."

Hooters has officially filed for bankruptcy. After signing a Chapter 11 motion in Texas on Monday, the restaurant chain company vowed to “remain open to serve customers and will continue to operate in a business-as-usual manner” as it undergoes an extensive restructuring,

Hooters, the restaurant chain known for its wings and all-female waitstaff in signature orange uniforms, has filed for Chapter 11 bankruptcy. Despite the filing, the brand insists it’s not going anywhere.

Hooters announced that it has filed for bankruptcy, but clarified in a press release that this doesn't necessarily mean it's going out of business.

Restaurant chain Hooters of America filed for bankruptcy in Texas on Monday, seeking to address its $376 million debt by selling all of its company-owned restaurants to a franchise group backed by the company’s founders.

Hooters has filed for bankruptcy. The restaurant chain operates 400 stores, including four in Arizona. Will any stores close? Here's what to know.