Fatburger and other iconic Fat Brands names could be sold off as company looks to survive bankruptcy – UK Times

FAT Brands, the Beverly Hills-based company behind Fatburger, Johnny Rockets and Round Table Pizza, could sell off some of its iconic names as it navigates its way through bankruptcy proceedings.

A recent filing in bankruptcy court notes the company has sought approval to market and “sell all, substantially all, or any portion of their assets or brands,” according to Restaurant Drive.

It’s unclear what companies could be interested in obtaining the well-known restaurant brands, but companies have until April 3 to submit an indication of interest to the court. A sale would be an open auction that would allow any interested companies to submit a bid.

“The Debtors believe the Bidding Procedures … are fair and appropriate and will enable the Debtors to maximize value while providing parties in interest with a level playing field with respect to negotiations for the purchase of the Assets,” according to the filing.

FAT Brands entered Chapter 11 bankruptcy on January 26 in the U.S. Bankruptcy Court for the Southern District of Texas, and is seeking to restructure its finances and reduce its liabilities. In its filings, FAT Brands said that the group, which operates approximately 18 restaurant brands with more than 2,200 locations worldwide, is seeking joint administration of its Chapter 11 cases alongside its affiliate Twin Hospitality and related subsidiaries, Financier Worldwide Magazine reports.

FAT Brands officials said restaurants should operate as normal during the bankruptcy proceedings.

The company’s assets and debts are estimated to range from $1 billion to $10 billion, partly due to recent acquisitions and complex debt arrangements.

“Our dynamic portfolio of brands has demonstrated tremendous resilience in a challenging restaurant operating environment over the last few years. We are well positioned for long-term profitability and growth. The Chapter 11 process will provide us with the opportunity to strengthen our capital structure to support our concepts and ensure they remain at the forefront of their sectors,” FAT Brands CEO Andy Wiederhorn said.

“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 interests. Our focus in this process remains providing quality service to our customers and supporting our franchise partners and the over 45,000 corporate and franchise employees,” Wiederhorn said.

FAT Brands has been through a rocky financial period, facing about $1.26 billion in debts it couldn’t pay by late 2025. The company tried to ease the pressure by separating some of its brands, like Twin Peaks and Smokey Bones, into a different company, but that wasn’t enough to avoid filing for bankruptcy.

After filing for bankruptcy, Nasdaq said that FAT Brands and Twin Hospitality’s stocks would stop trading on February 4 and would be removed from the exchange due to the bankruptcy and public‑interest concerns. The company isn’t contesting that moves and expects its shares to move to the over‑the‑counter Pink Market. Previously, the stocks had already faced warnings for staying below $1 for a long time, Financier Worldwide Magazine reports.