FAT Brands gets court go-ahead for liquidation plan
Debt, brands and bankruptcy timeline
FAT Brands filed for bankruptcy in January with $1.4 billion in debt, citing the high costs of its debt, the impacts of inflation on the restaurant business, and legal costs.
FAT Brands entered bankruptcy with 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.
Most of those brands were acquired by FAT Brands' lenders, with Twin Peaks being split off into a separate lender-owned company and Hot Dog on a Stick being sold for $8 million to an outside buyer, Amazing Brands LLC.
