FAT Brands Files for Voluntary Chapter 11 Bankruptcy
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 3d ago
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FAT Brands announced it has commenced voluntary chapter 11 proceedings in the U.S. Bankruptcy Court for the Southern District of Texas. FAT Brands plans to use the filings to deleverage the balance sheet. FAT Brands' portfolio of 18 restaurant concepts encompasses more than 2,200 locations worldwide. Brands such as Fatburger, Johnny Rockets, Round Table Pizza, among others, are expected to remain operating as usual during the chapter 11 process. Trading of FAT Brands' securities on Nasdaq is expected to continue with a "Q" suffix during this period.
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Analyst Views on FAT
About FAT
FAT Brands Inc. is a global franchising company, which acquires, markets, and develops fast casual, quick-service, casual dining, and polished casual dining concepts around the world. It owns 18 restaurant brands: Round Table Pizza, Fatburger, Marble Slab Creamery, Johnny Rockets, Fazoli’s, Twin Peaks, Great American Cookies, Smokey Bones, Hot Dog on a Stick, Buffalo’s Cafe & Express, Hurricane Grill & Wings, Pretzelmaker, Elevation Burger, Native Grill & Wings, Yalla Mediterranean and Ponderosa and Bonanza Steakhouses, and franchises and owns over 2,300 units worldwide. Round Table Pizza is the franchisor of quick service restaurants located in California and the western United States. Hot Dog on a Stick is the franchisor of quick service restaurants located in regional malls in California and the western United States. Johnny Rockets is an international restaurant franchise and offers menu items including Certified Angus Beef cooked-to-order hamburgers, chicken sandwiches, and malts.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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