04/12/2010 05:12 am ET | Updated May 25, 2011

Hooters For Sale: Chain Seeks Buyer, Could Fetch $250M, NY Post Reports

Restaurant chain Hooters, famous for scantily clad waitresses serving wings and beer, is apparently looking for prospective buyers, the New York Post Reports. Although an asking price couldn't be learned, it might go for as much as $250 Million:

Some analysts estimate the chain might fetch more than $250 million despite the bumpy business climate. Hooters' 450 owned and franchised restaurants, which are as far-flung as Australia and China, racked up more than $1 billion in sales in 2008, according to Technomic, a food-industry research firm.

The Post also ventures a guess that there may be more than financial matters weighing on the decision to sell.

If an upcoming episode of the CBS reality show "Undercover Boss" is any indication, there may be management issues, too. In an episode slated to run Sunday, CEO Coby Brooks discovers a restaurant supervisor staging an eating contest for female employees, forcing them to bury their faces in platefuls of food without using their hands.

"Ladies, if you want to leave early today, you're going to play my reindeer game," the manager says, howling "Hoooo, doggie!" as the women eat.