One of America’s famed restaurant chains, Hooters, known for its wings and waitresses, filed for bankruptcy on Monday after accumulating $376 million in debt, Reuters reported.

The company submitted its filing in a Texas court with the intent to sell 151 of its corporate-owned sports bars to a buyer group that already operates 30 such stores.

Neil Kiefer, a member of the buyer group and also the CEO of the original Hooters outlet in Clearwater, Florida, responded to the development, stating, “With over 30 years of hands-on experience across the Hooters ecosystem, we have a profound understanding of our customers and what it takes to not only meet, but consistently exceed their expectations.”

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