The Krystal Restaurant chain, which was founded in Chattanooga in 1932, has filed for bankruptcy.
The filing in Georgia said Krystal had debts between $50 million and $100 million and assets of only $50,000.
Krystal long kept its headquarters in Chattanooga, but had moved to the Atlanta area.
It had closed some of its units in recent years, including one on Brainerd Road, but it still has a number of locations in the Chattanooga area.
The first Krystal was at the corner of Seventh and Cherry in Chattanooga.