Restaurant chain, Hooters is shopping itself around for an undisclosed amount but which is estimated to be by analysts the Post talked to in the $250 Million dollar range, According to the New York Post,

The Post claims that the Hooters Casino and Hotel in Las Vegas could be to blame for the company’s financial woes. According to the newspaper, the Las Vegas development was recently in default on $144.5 million in long-term debt.

Says the Post:

“Hooters has recently shopped itself to a number of private-equity firms as sales have sagged with the recession, sources said. The closely held company, meanwhile, is in advanced talks with a Connecticut-based investor that has been granted certain rights of refusal on any potential transaction, according to one source.”

Hooters of America, Inc. is the Atlanta-based operator and franchiser of over 450 Hooters locations in 43 states in the United States and more than two dozen countries including spots in Canada..

The restaurant chain, which trades on female sex appeal, owns 122 units.