Fatburger Owner Faces Allegations It Masked Liquidity Crunch [Yahoo! Finance]
FAT Brands Inc. - Class B (FATBB)
Company Research
Source: Yahoo! Finance
hiding the true extent of its debt amid a darkening financial outlook that saw its stock hit a multiyear low this week. Most Read from Bloomberg Hudson Tunnel Digging Work to Start as Boring Machines Ready ICE Plans Detention Expansion With Deal to Design 'Mega Centers' NYC High Line-Area Building Floats $53 Million Bankruptcy Sale With Mamdani, the Humble Bus Gets Its Due NYC's Adams Challenges Mamdani Rent Freeze With Board Picks The company, which owns Fatburger and Johnny Rockets, resorted to high-interest loans known as merchant cash advances as its finances deteriorated, according to a pair of complaints filed in Delaware Chancery Court since late November. The shareholder accuses FAT Brands of misrepresenting debt as cash to try to win fresh financing. The MCAs, together with other transactions that were “designed to artificially inflate its cash position and disguise its liquidity issues,” suggested deeper troubles with the firm's finances that weren't “properl
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News
- Fatburger Owner Faces Allegations It Masked Liquidity Crunch [Yahoo! Finance Canada]Yahoo! Finance Canada
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- Selling Pressure For Twin Hospitality As FAT Brands Hires Restructuring Advisors [Seeking Alpha]Seeking Alpha
- FAT Brands GAAP EPS of -$3.39, revenue of $140M [Seeking Alpha]Seeking Alpha
- FAT Brands to relaunch Fatburger in Japan [Yahoo! Finance]Yahoo! Finance