Hooters of America is reportedly working with its creditors on restructuring its business via bankruptcy, according to a new report in Bloomberg. According to the report — which cites sources with knowledge of the proceedings — Hooters is working with the Ropes & Gray law firm to prepare a filing.

Hooters — famous for dressing its waitress in tight-fitting T-shirts to sling wings and beer — could be going belly-up. The casual dining chain is preparing for a potential bankruptcy filing as it works with creditors on a plan to restructure its operations,

Hooters of America is reportedly preparing to file for bankruptcy in the coming months as the casual dining chain faces financial challenges. According to Bloomberg, the company is working with creditors and the law firm Ropes & Gray to restructure its business through bankruptcy court.