As Hostess proved in both 2004 and 2012, it's possible for Twinkie the Kid to ride again even after a bankruptcy filing.

Maker’s Pride said it “moves forward as a well-capitalised company under the majority ownership of a group of its existing lenders, including funds managed by Apollo and Oaktree Capital Management”.

The chain will sell over 100 company-owned locations to two major franchisees, which will also take over franchise support and corporate functions.

The breastaurant's bikini nights will be one casualty as HMC Hospitality Group takes over amid HOA Restaurant Group's financial woes.

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.

Hooters filed for Chapter 11 bankruptcy in Texas to address its debt woes as the chain seeks to sell its company-owned locations to a buyer group with the backing of its original founders

Hooters, which has a restaurant in Wethersfield and about 300 locations nationwide, closed 40 restaurants last year, including one in Manchester.

Wojcicki said she intends to become an outside bidder to acquire the company’s assets after her earlier efforts to take 23andMe private failed.

University of Chicago Law School 1111 East 60th Street, Chicago, Illinois 60637 773.702.9494 In 1978, the United States adopted the Bankruptcy Code and its Chapter 11, which allows companies to restructure their obligations.