Parent of restaurant chain that started in Lexington files for bankruptcy [Yahoo! Finance]
FAT Brands Inc. - Class B (FATBB)
Company Research
Source: Yahoo! Finance
According to a news release from FAT, the company “plans to use the filings to deleverage the balance sheet, maximize value for its stakeholders and support continued growth of its brands.” The restaurants are expected to remain operating as usual during the Chapter 11 process, according to the company. Fazoli's was founded in Lexington as Gratzi's in 1988 and became known for its fast-casual dining experience and unlimited breadsticks. The chain has four locations in Fayette County, along with Fazoli's headquarters. Besides Fazoli's, FAT also owns Fatburger, Johnny Rockets, Marble Slab Creamery, Great American Cookies, Ponderosa and Bonanza Steakhouse and more. The company's 18 restaurant brands include more than 2,200 locations worldwide. The company also has a 95% ownership of Twin Hospitality, which operates the Twin Peaks sports bar chain. FAT Brands, Twin Hospitality and the debtor subsidiaries are asking for all the cases to be jointly administered. Shares of the publi
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News
- BBQ chain shuts 14 more locations amid Chapter 11 bankruptcy [Yahoo! Finance]Yahoo! Finance
- 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