BBQ chain shuts 14 more locations amid Chapter 11 bankruptcy [Yahoo! Finance]
FAT Brands Inc. - Class B (FATBB)
Company Research
Source: Yahoo! Finance
In this case, FAT Brands, which filed for Chapter 11 bankruptcy protection on Jan. 26, had already decided to allocate resources to its Twin Peaks sports bar concept instead of its Smokey Bones Barbecue restaurant chain In September, Twin Hospitality, a sister company to FAT Brands, which has also filed for Chapter 11 bankruptcy, shared the decision to close 15 underperforming Smokey Bones locations. It also detailed a plan to convert 19 Smokey Bones locations into Twin Peaks locations. Twin Hospitality CEO Kim Boerema explained those decisions in a press release “We have launched a full spending review across both brands to eliminate inefficiencies, uncover synergies, and refocus on high-return initiatives. I have also focused on reviewing the Smokey Bones portfolio, closing underperforming units, identifying strong candidates for conversion, and supporting profitable locations that will remain Smokey Bones," she shared. Now, with Chapter 11 filings forcing further austerity
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News
- FAT Brands is being delisted from the Nasdaq less than two weeks after filing for bankruptcy [Yahoo! Finance]Yahoo! Finance
- Johnny Rockets, Twin Peaks owner files bankruptcy after $750M expansion backfires [Yahoo! Finance]Yahoo! Finance
- Parent companies of Fazoli's, Twin Peaks file for Chapter 11 bankruptcy [Yahoo! Finance]Yahoo! Finance
- Restaurant giant files for bankruptcy under massive debt shortly after touting major expansion [FOX Business Network]FOX Business Network
- Parent of restaurant chain that started in Lexington files for bankruptcy [Yahoo! Finance]Yahoo! Finance