Fatburger Owner Is the Latest Casual-Dining Bankruptcy [Yahoo! Finance]
FAT Brands Inc. - Class B (FATBB)
Company Research
Source: Yahoo! Finance
The Beverly Hills-based company filed for Chapter 11 bankruptcy in Texas on Monday, court documents show. The company has around $1.45 billion of funded debt obligations outstanding, according to a court filing from FAT Brands' chief restructuring officer dated Jan. 27. Most Read from Bloomberg White House Ballroom Architect Reveals New Trump-Requested Features NYC's Mamdani Crushes Snow Day Hopes, But He Yearns for It Too Boston's 18-Inch Snow Deluge to Make Travel Hard to ‘Impossible' Storm Recovery? That's a Job for a Tool Library World Cup Cities Set to Win $100 Million in Federal Transit Aid The step came after FAT Brands didn't make interest payments due in October on some of its $1.2 billion in whole-business securitization debt. Creditors then called for a full and immediate repayment of that total amount, saying the failure to pay constituted a default. According to the declaration, a group of creditors indicated they would issue a notice of foreclosure on the
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News
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