Parent companies of Fazoli's, Twin Peaks file for Chapter 11 bankruptcy [Yahoo! Finance]
FAT Brands Inc. - Class B (FATBB)
Company Research
Source: Yahoo! Finance
FAT Brands and Twin Hospitality Group Inc. claim Fazoli's and Twin Peaks among their brands. "The chapter 11 process will enable us to strengthen our balance sheet and create financial flexibility to advance this growth. We plan to use this process to connect with key stakeholders around a value-maximizing plan and will act prudently to remain steadfast in upholding and protecting stakeholder interest," said Andrew Wiederhorn, CEO of FAT Brands and Twin Hospitality, in a statement on both organizations' websites. "Our focus in this process remains providing quality service to our customers and supporting our franchise partners and the thousands of corporate and franchise employees." Fazoli's has restaurants in Miamisburg and Huber Heights. Twin Peaks has locations at Fairfield Commons in Beavercreek and in West Chester. The restaurants are expected to remain open and operating as usual, according to a statement from Wiederhorn. Wiederhorn has experienced numerous legal issues
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