A buyer group comprised of two existing Hooters franchisees has agreed to acquire and operate certain Company-owned Hooters locations, the company said in a press release. At the end of the Chapter 11 process, all Hooters locations will be franchisee-owned, the company also said.

The chain, known for its fried chicken wings and scantily dressed staff, filed for chapter 11 bankruptcy on Monday after 42 years in the business.

Restaurant chain Hooters of America has filed for bankruptcy in Texas to manage its $376 million debt. The company plans to sell all its company-owned restaurants to a franchise group supported by its founders in an attempt to restructure and stabilize its financial situation.

Hooters wants to go back to good food, good service and being a place for the whole family to eat starting with saying goodbye to bikini days.