Popular BBQ chain just closed 14 more locations with no warning to customers [Yahoo! Finance]
FAT Brands Inc. - Class B (FATBB)
Company Research
Source: Yahoo! Finance
Jan. 26, allocated resources to its Twin Peaks Sports Bar concept instead of its Smokey Bones Barbecue restaurant chain. Twin Hospitality, a sister company to FAT Brands, has also filed for Chapter 11 bankruptcy. In September, Twin Hospitality and FAT Brands decided to close 15 underperforming Smokey Bones locations." The companies also plan to convert 19 Smokey Bones locations into Twin Peaks locations." In a press release , Twin Hospitality CEO Kim Boerema addressed those decisions. “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 explained. As a result of the Chapter 11 filing, Smokey Bones is set to close another 14 locations." After this round of shutdowns, Smokey
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News
- A large Subway operator declares bankruptcy [Yahoo! Finance]Yahoo! Finance
- 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