UPDATE 2: KTWX is reporting that the biker gangs apprehended after yesterday's shooting in Waco have had their bonds set at $1 million on Monday.

UPDATE: According to our news affiliate KWTX, the Twin Peaks corporate office revoked the franchise of the Waco, Texas Twin Peaks restaurant after nine people were killed and another 18 injured in a shootout between at least three rival criminal biker gangs on Sunday.

Twin Peaks corporate issued the following statement Monday morning:

We are in the people business and the safety of the employees and guests in our restaurants is priority one.

Unfortunately the management team of the franchised restaurant in Waco chose to ignore the warnings and advice from both the police and our company, and did not uphold the high security standards we have in place to ensure everyone is safe at our restaurants.

We will not tolerate the actions of this relatively new franchisee and are revoking their franchise agreement immediately. Our sympathies continue to be with the families of those who died and are very thankful no employees, guests, police officers or bystanders were hurt or injured.

This follows after Jay Patel, now former operating partner for the Waco Twin Peaks franchise, issued the following statement on Sunday:

We are horrified by the criminal, violent acts that occurred outside of our Waco restaurant today. We share in the community's trauma. Our priority is to provide a safe and enjoyable environment for our customers and employees, and we consider the police our partners in doing so. Our management team has had ongoing and positive communications with the police and we will continue to work with them as we all want to keep violent crime out of our businesses and community. We will continue to cooperate with the police as they investigate this terrible crime.

According to a McLennan County official, the Texas Alcoholic Beverage Commission has additionally revoked the Waco Twin Peaks' alcohol license for a one week period while the investigation is ongoing.

Waco police Sgt. W. Patrick Swanton gave a press conference Sunday afternoon detailing the events of the shooting:

Swanton declared this afternoon that the area surrounding the Waco Twin Peaks was as secure as possible, but urged the public to stay away from the Central Texas Marketplace, fearing that there may be instances of retaliation on the part of the various gangs still in the area.

KWTX released the following raw footage from the crime scene: