Large companies such as Microsoft, Amazon, Nvidia, and Meta may seem like powerhouses of efficiency to the common person, seemingly able to accomplish thousands upon thousands of tasks in a day. But look beneath the surface,

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.

Earlier this month, On the Border Mexican Grill & Cantina filed for Chapter 11 bankruptcy protection after closing dozens of restaurants in February. In recent months, there's also been bankruptcy filings from TGI Fridays and Red Lobster.