Latest news with #AndyWiederhorn
Yahoo
01-08-2025
- Business
- Yahoo
U.S. Department of Justice drops criminal charges against former FAT Brands CEO Andy Wiederhorn
You can find original article here Nrn. Subscribe to our free daily Nrn newsletter. The U.S. Department of Justice has dropped all criminal charges against former FAT Brands CEO Andy Wiederhorn, who was indicted in May 2024 on federal charges alleging a scheme to conceal $47 million in distributions. The criminal charges of multiple counts of financial fraud, including accusations of tax evasion, wire fraud, and illegal possession of a firearm as a convicted felon, have been dismissed. 'I am grateful to the U.S. Attorney's Office for taking a fresh look at this case and to the attorneys who worked tirelessly on my behalf and on behalf of the other defendants,' Wiederhorn said in a statement. 'With this indictment behind us, I look forward to focusing on the continued growth and success of FAT Brands.' Concurrently, the U.S. Securities and Exchange Commission filed separate civil charges in May 2024, alleging misappropriation of $27 million of company money and using that money to 'fund his lavish lifestyle.' In January, Wiederhorn appealed the charges with the Ninth Circuit United States Court of Appeals. That case is still pending, and the next major deadline with the appellate court is Aug. 13. In April of this year, the SEC appeals case was paused temporarily after assistant U.S. attorney Adam Schleifer was fired without explanation at the behest of President Donald Trump. The termination notice was emailed to Schleifer one hour after conservative media personality Laura Loomer called for his termination in a social media post in which she called out his alleged criticism of President Trump, according to AP News. Schleifer was representing the United States Government as the appellee attorney at the time in the Wiederhorn case, which proceeded without counsel. Soon after, Schleifer filed a wrongful termination case with the Merit Systems Protection Board, which handles wrongful dismissal cases of federal workers. In the filing, according to the Los Angeles Times, Schleifer called the dismissal 'unlawful,' and said it was politically motivated by a 'smear campaign' allegedly committed and promoted by Wiederhorn and his defense team. In April, Bill Essayli was appointed interim U.S. attorney for the Los Angeles region by U.S. Attorney General Pam Bondi. In his wrongful termination case, Schleifer claims that in March, shortly before his termination, the U.S. attorney's office, including Essayli, met with Wiederhorn's counsel and discussed the potential removal of Schleifer on the grounds of his cases reflecting, 'a 'woke,' 'DEI,' and 'Biden' bias.' The meeting also included U.S. Attorney Nicola T. Hanna, who was in charge of the investigation against Wiederhorn, and is now on his defense team, according to The Los Angeles Times. Wiederhorn is a frequent Trump donor, and since 2019, has donated more than $46,000 to the president's re-election campaigns, according to the Federal Election Commission. Wiederhorn previously served time in prison for tax fraud from 2005 to 2006. A little more than a decade later, he formed FAT Brands, anchored by flagship brand Fatburger. By 2021, FAT Brands was making headlines for the company's rapid-fire acquisition of four companies in five months, including Global Franchise Group, Twin Peaks, Fazoli's and Native Grill & Wings. By September 2023, FAT Brands had grown to a ballooning portfolio company, with 14 acquisitions in three years under its belt. The latest acquisition was of Smokey Bones Barbecue in September 2023. This massive portfolio expansion was anticipated when, in 2020, Wiederhorn's company Fog Cutter Capital merged with FAT Brands, allowing the company to use its stock to make future acquisitions instead of just using debt or cash. As FAT Brands began acquiring more struggling brands, the portfolio company also acquired their debt, which now totals $1.3 billion, according to the SEC filing for the quarter ended March 30, 2025. In February 2022, federal authorities began investigating Wiederhorn and members of his family on allegations of securities and wire fraud, money laundering, and attempted tax evasion. Although FAT Brands was mentioned in the court records, the company said at the time that it was 'not a target of the investigation.' Then, in March 2023, Wiederhorn stepped down as CEO of FAT Brands and transitioned to an advisory role due to the federal investigation against him. Since then, Wiederhorn has remained on as a board member of FAT Brands and his family holding company, Fog Cutter Holdings LLC, continued on as a controlling shareholder of the company. Although he stepped down as CEO, Wiederhorn continued to lead most quarterly earnings calls with investors of FAT Brands. After the federal government concluded its investigation and brought charges against Wiederhorn last year, FAT Brands investors filed a lawsuit against the company in July over 'failing to disclose' that Wiederhorn had allegedly received 'improper payments from the company' and 'exposed Fat Brands to criminal liability,' per the SEC charges. In January 2025, around the same time that Wiederhorn appealed the SEC charges, former executive chairman of the FAT Brands board, James Neuhauser, filed a lawsuit against FAT Brands claiming that the company breached his employment contract by terminating him as executive chairman without cause. Neuhauser claims that he was fired as retaliation for approving an independent third-party investigation into Fat Brands' allegedly illegal actions, which concluded in December 2022, and later for speaking with the FBI, SEC, and IRS about the findings. According to the lawsuit, Neuhauser claims that he was told he would not receive his separation pay until he, 'agreed to meet with and provide information to Wiederhorn's personal attorneys representing Wiederhorn in the investigation into his illegal transactions.' Neuhauser claimed whistleblower protection rights in his original lawsuit. In June 2025, the lawsuit was stayed until the conclusion of the federal government's criminal case against FAT Brands. Neuhauser's claims against Wiederhorn were dismissed after the federal charges were dropped on July 29. 'We have said from the beginning that this is a case with no victims, no losses, and no crimes,' Douglas Fuchs of Gibson Dunn, legal counsel to Wiederhorn, said in a statement regarding the dropped federal charges. 'Today, the U.S. Attorney took the appropriate step of dismissing the indictment.' 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Yahoo
31-07-2025
- Business
- Yahoo
FAT Brands touts 1,000-store pipeline despite growing debt and revenue declines
You can find original article here Nrn. Subscribe to our free daily Nrn newsletter. FAT Brands is moving full speed ahead with store development despite ongoing financial challenges to the portfolio company. Chairman Andy Wiederhorn confirmed during Wednesday's earnings call for the second quarter ended June 29, that the company plans to open an additional 100 stores in 2025, with 1,000 units in the pipeline across the 15-concept company. 'Backed by a robust pipeline of roughly 1,000 signed deals, we opened 18 new locations during the second quarter, including three co-branded Marble Slab Creamery and Great American Cookies stores, and are well positioned to meet our goal of more than 100 restaurant openings this year,' Wiederhorn said. 'In Florida, we've signed a development deal to open 40 additional Fatburger locations over the next decade, growing our state presence to approximately 50 locations.' In contrast to this optimistic store pipeline, FAT Brands continues to struggle financially, reporting a 3.9% decline in same-store sales, 3.4% revenue decrease, and accumulated debt that has reached $15.7 billion. FAT Brands largely attributes the revenue declines to store closures and decreasing same-store sales. FAT Brands' stock has dropped 56.5% year-over-year. FAT Brands co-CEO Ken Kuick laid out a strategic financial plan to cut down on the company's accumulating debt, which includes making interest-only payments to bondholders, temporarily stopping dividend payments to shareholders, and debt restructuring. The company also plans to refranchise 57 Fazoli's locations and double down on its manufacturing business of pretzel and cookie dough for Great American Cookie and Pretzelmaker. For the second quarter ended June 29, FAT Brands opened 18 net new restaurants. The company reported total revenue declines of 3.4% to $146.8 million, compared with $152 million in the second quarter of 2024. The company swung to a loss of $54.2 million, or $3.17 per diluted share, compared to $39.4 million, or $2.43 per diluted share, in the second quarter of 2024. On the same day of FAT Brands' second quarterly earnings call, the U.S. Department of Justice dropped all criminal charges against former CEO Wiederhorn, who was indicted in May 2024 on federal charges alleging a scheme to conceal $47 million in distributions. Contact Joanna at Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Globe and Mail
30-07-2025
- Business
- Globe and Mail
FAT BRANDS INC. REPORTS SECOND QUARTER 2025 FINANCIAL RESULTS
Conference call and webcast today at 4:30 p.m. ET LOS ANGELES, July 30, 2025 (GLOBE NEWSWIRE) -- FAT (Fresh. Authentic. Tasty.) Brands Inc. (NASDAQ: FAT) ('FAT Brands' or the 'Company') today reported financial results for the fiscal second quarter ended June 29, 2025. Andy Wiederhorn, Chairman of FAT Brands, said: 'Backed by a robust pipeline of roughly 1,000 signed deals, we opened 18 new locations during the second quarter, including three co-branded Marble Slab Creamery and Great American Cookies stores, and are well positioned to meet our goal of more than 100 restaurant openings this year. In Florida, we've signed a development deal to open 40 additional Fatburger locations over the next decade, growing our state presence to approximately 50 locations. Our diversified portfolio strategy is paying dividends, led by a strong performance in our snacks segment. We are also seeing meaningful impact from our digital initiatives. At Great American Cookies, digital sales now account for 25% of total revenue with loyalty-driven sales up 40% while Round Table Pizza is experiencing 21% loyalty-driven sales growth and 18% higher customer engagement.' Ken Kuick, Co-Chief Executive Officer and Chief Financial Officer of FAT Brands said: 'We continue to take decisive steps to strengthen our financial position, including securing a bondholder agreement to convert amortizing bonds to interest-only, which will generate an additional $30 to $40 million in annual cash flow savings. Our indenture-related dividend pause remains in effect until we reach the $25 million principal reduction threshold, preserving $36 to $40 million annually. We have also implemented over $5 million in annual G&A reductions while actively working toward refinancing our three remaining securitization silos well ahead of their July 2026 maturity. These combined actions position us to achieve cash flow positive status in the coming quarters." Taylor Wiederhorn, Co-Chief Executive Officer of FAT Brands, said: 'A key strategic priority for us is expanding our manufacturing capacity. To support this, we are actively pursuing strategic partnerships that broaden our brand reach and strengthen our manufacturing capabilities, reinforcing our commitment to growing our market presence and delivering exceptional products to our customers.' Fiscal Second Quarter 2025 Highlights Total revenue declined 3.4% to $146.8 million compared to $152.0 million in the fiscal second quarter of 2024 System-wide sales declined 3.7% System-wide same-store sales declined 3.9% 18 new store openings during the fiscal second quarter of 2025 Net loss of $54.2 million, or $3.17 per diluted share, compared to $39.4 million, or $2.43 per diluted share, in the fiscal second quarter of 2024 Negative EBITDA (1) of $6.0 million compared to EBITDA (1) of $6.8 million in the fiscal second quarter of 2024 Adjusted EBITDA (1) of $15.7 million in the fiscal second quarter of 2025 and 2024 Adjusted net loss (1) of $49.0 million, or $2.88 per diluted share, compared to adjusted net loss (1) of $30.9 million, or $1.93 per diluted share, in the fiscal second quarter of 2024 (1) EBITDA, adjusted EBITDA and adjusted net loss are non-GAAP measures defined below, under 'Non-GAAP Measures'. Reconciliation of GAAP net loss to EBITDA, adjusted EBITDA and adjusted net loss are included in the accompanying financial tables. Summary of Fiscal Second Quarter 2025 Financial Results Total revenue decreased $5.2 million, or 3.4%, in the second quarter of 2025 to $146.8 million compared to $152.0 million in the year-ago quarter, primarily driven by a decrease in restaurant revenue resulting from the closure of five underperforming Smokey Bones locations, the temporary closure of one Smokey Bones location for conversion into a Twin Peaks lodge and lower same-store sales, partially offset by the opening of new Twin Peaks lodges. General and administrative expense increased $14.8 million, or 50.3%, in the second quarter of 2025 to $44.4 million compared to $29.6 million in the same period in the prior year, primarily due to increased share-based compensation expense related to Twin Hospitality Group Inc. and the recognition of $2.1 million in Employee Retention Credits during the prior year quarter. Cost of restaurant and factory revenues was related to the operations of the company-owned restaurant locations and dough factory and decreased $2.1 million, or 2.1%, in the second quarter of 2025 to $98.1 million compared to $100.1 million in the year-ago quarter, primarily due to the decreased costs at company-owned restaurants and factory revenue. Advertising expenses decreased $3.1 million in the second quarter of 2025 to $11.5 million compared to $14.7 million in the same period in the prior year. These expenses vary in relation to advertising revenues. Total other expense, net, for the second quarter of 2025 and 2024 was $39.4 million and $34.8 million, respectively, which is inclusive of interest expense of $39.4 million and $34.0 million, respectively. Adjusted net loss (1) was $49.0 million, or $2.88 per diluted share, compared to adjusted net loss (1) of $30.9 million, or $1.93 per diluted share, in the fiscal second quarter of 2024. Key Financial Definitions New store openings - The number of new store openings reflects the number of stores opened during a particular reporting period. The total number of new stores per reporting period and the timing of store openings has, and will continue to have, an impact on our results. Same-store sales growth - Same-store sales growth reflects the change in year-over-year sales for the comparable store base, which we define as the number of stores open and in the FAT Brands system for at least one full fiscal year. For stores that were temporarily closed, sales in the current and prior period are adjusted accordingly. Given our focused marketing efforts and public excitement surrounding each opening, new stores often experience an initial start-up period with considerably higher than average sales volumes, which subsequently decrease to stabilized levels after three to six months. Additionally, when we acquire a brand, it may take several months to integrate fully each location of said brand into the FAT Brands platform. Thus, we do not include stores in the comparable base until they have been open and in the FAT Brands system for at least one full fiscal year. System-wide sales growth - System-wide sales growth reflects the percentage change in sales in any given fiscal period compared to the prior fiscal period for all stores in that brand only when the brand is owned by FAT Brands. Because of acquisitions, new store openings and store closures, the stores open throughout both fiscal periods being compared may be different from period to period. Conference Call and Webcast FAT Brands will host a conference call and webcast to discuss its fiscal second quarter 2025 financial results today at 4:30 PM ET. Hosting the conference call and webcast will be Andy Wiederhorn, Chairman of the Board, and Ken Kuick, Co-Chief Executive Officer and Chief Financial Officer. The conference call can be accessed live over the phone by dialing 1-877-704-4453 from the U.S. or 1-201-389-0920 internationally. A replay will be available after the call until Wednesday, August 20, 2025, and can be accessed by dialing 1-844-512-2921 from the U.S. or 1-412-317-6671 internationally. The passcode is 13754156. The webcast will be available at under the 'Investors' section and will be archived on the site shortly after the call has concluded. About FAT (Fresh. Authentic. Tasty.) Brands FAT Brands (NASDAQ: FAT) is a leading global franchising company that strategically acquires, markets, and develops fast casual, quick-service, casual dining, and polished casual dining concepts around the world. The Company currently owns 18 restaurant brands: Round Table Pizza, Fatburger, Marble Slab Creamery, Johnny Rockets, Fazoli's, Twin Peaks, Smokey Bones, Great American Cookies, 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 approximately 2,300 units worldwide. For more information, please visit Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the future financial and operating results of the Company, the timing and performance of new store openings, our ability to conduct future accretive acquisitions and our pipeline of new store locations. Forward-looking statements generally use words such as 'expect,' 'foresee,' 'anticipate,' 'believe,' 'project,' 'should,' 'estimate,' 'will,' 'plans,' 'forecast,' and similar expressions, and reflect our expectations concerning the future. Forward-looking statements are subject to significant business, economic and competitive risks, uncertainties and contingencies, many of which are difficult to predict and beyond our control, which could cause our actual results to differ materially from the results expressed or implied in such forward-looking statements. We refer you to the documents that we file from time to time with the Securities and Exchange Commission, such as our reports on Form 10-K, Form 10-Q and Form 8-K, for a discussion of these and other risks and uncertainties that could cause our actual results to differ materially from our current expectations and from the forward-looking statements contained in this press release. We undertake no obligation to update any forward-looking statements to reflect events or circumstances occurring after the date of this press release. Non-GAAP Measures (Unaudited) This press release includes the non-GAAP financial measures of EBITDA, adjusted EBITDA and adjusted net loss. EBITDA is defined as earnings before interest, taxes, and depreciation and amortization. We use the term EBITDA, as opposed to loss from operations, as it is widely used by analysts, investors, and other interested parties to evaluate companies in our industry. We believe that EBITDA is an appropriate measure of operating performance because it eliminates the impact of expenses that do not relate to business performance. EBITDA is not a measure of our financial performance or liquidity that is determined in accordance with generally accepted accounting principles ('GAAP'), and should not be considered as an alternative to net loss as a measure of financial performance or cash flows from operations as measures of liquidity, or any other performance measure derived in accordance with GAAP. Adjusted EBITDA is defined as EBITDA (as defined above), excluding expenses related to acquisitions, refranchising (gain) loss, impairment charges, and certain non-recurring or non-cash items that the Company does not believe directly reflect its core operations and may not be indicative of the Company's recurring business operations. Adjusted net loss is a supplemental measure of financial performance that is not required by or presented in accordance with GAAP. Adjusted net loss is defined as net loss plus the impact of adjustments and the tax effects of such adjustments. Adjusted net loss is presented because we believe it helps convey supplemental information to investors regarding our performance, excluding the impact of special items that affect the comparability of results in past quarters to expected results in future quarters. Adjusted net loss as presented may not be comparable to other similarly titled measures of other companies, and our presentation of adjusted net loss should not be construed as an inference that our future results will be unaffected by excluded or unusual items. Our management uses this non-GAAP financial measure to analyze changes in our underlying business from quarter to quarter based on comparable financial results. Reconciliations of net loss presented in accordance with GAAP to EBITDA, adjusted EBITDA and adjusted net loss are set forth in the tables below. Investor Relations: ICR Michelle Michalski ir-fatbrands@ Media Relations: Erin Mandzik emandzik@ 860-212-6509 FAT Brands Inc. Consolidated Statements of Operations Thirteen Weeks Ended Twenty-Six Weeks Ended (In thousands, except share and per share data) June 29, 2025 June 30, 2024 June 29, 2025 June 30, 2024 Revenue Royalties $ 22,169 $ 23,318 $ 43,942 $ 45,265 Restaurant sales 102,388 107,410 201,803 213,348 Advertising fees 9,667 10,065 19,431 19,861 Factory revenues 10,250 9,636 19,061 19,110 Franchise fees 1,124 1,113 2,314 2,594 Other revenue 1,238 498 2,304 3,829 Total revenue 146,836 152,040 288,855 304,007 Costs and expenses General and administrative expense 44,415 29,558 77,458 59,563 Cost of restaurant and factory revenues 98,050 100,113 194,147 199,163 Depreciation and amortization 8,382 10,246 18,773 20,440 Refranchising (gain) loss (9) 175 (31) 1,683 Advertising fees 11,548 14,651 22,624 27,243 Total costs and expenses 162,386 154,743 312,971 308,092 Loss from operations (15,550) (2,703) (24,116) (4,085) Other (expense) income, net Interest expense (34,952) (29,586) (66,396) (59,209) Interest expense related to preferred shares (4,417) (4,417) (8,835) (8,835) Net (loss) gain on extinguishment of debt — — (151) 427 Other income (loss), net 7 (752) 44 (548) Total other expense, net (39,362) (34,755) (75,338) (68,165) Loss before income tax provision (54,912) (37,458) (99,454) (72,250) Income tax provision (457) (1,901) (2,226) (5,425) Net loss (55,369) (39,359) (101,680) (77,675) Less: Net loss attributable to non-controlling interest (1,181) — (1,523) — Net loss attributable to FAT Brands Inc. $ (54,188) $ (39,359) $ (1,523) $ (77,675) Net loss attributable to FAT Brands Inc. $ (54,188) $ (39,359) $ (100,157) $ (77,675) Dividends on preferred shares (2,310) (1,920) (4,541) (3,801) $ (56,498) $ (41,279) $ (104,698) $ (81,476) Basic and diluted loss per common share $ (3.17) $ (2.43) $ (5.91) $ (4.80) Basic and diluted weighted average shares outstanding 17,821,815 17,007,352 17,702,122 16,977,376 Cash dividends declared per common share $ — $ 0.14 $ — $ 0.28 FAT Brands Inc. Consolidated EBITDA and Adjusted EBITDA Reconciliation Thirteen Weeks Ended Twenty-Six Weeks Ended (In thousands) June 29, 2025 June 30, 2024 June 29, 2025 June 30, 2024 Net loss attributable to FAT Brands Inc. $ (54,188) $ (39,359) $ (100,157) $ (77,675) Interest expense, net 39,369 34,003 75,231 68,044 Income tax provision 457 1,901 2,226 5,425 Depreciation and amortization 8,382 10,246 18,773 20,440 EBITDA (5,980) 6,791 (3,927) 16,234 Bad debt expense (recovery) 971 (1,729) 1,201 (1,561) Share-based compensation expenses 12,765 677 13,131 1,422 Non-cash lease expenses 395 758 735 1,388 Refranchising (gain) loss (9) 175 (31) 1,683 Litigation costs 5,198 7,852 12,062 11,660 Severance — 19 — 41 Net loss related to advertising fund deficit 2,178 1,140 2,747 3,422 Net loss (gain) on extinguishment of debt — — 151 (427) Pre-opening expenses 177 63 695 91 Adjusted EBITDA $ 15,695 $ 15,747 $ 26,764 $ 33,953 FAT Brands Inc. Adjusted Net Loss Reconciliation Thirteen Weeks Ended Twenty-Six Weeks Ended (In thousands, except share and per share data) June 29, 2025 June 30, 2024 June 29, 2025 June 30, 2024 Net loss attributable to FAT Brands Inc. $ (54,188) $ (39,359) $ (100,157) $ (77,675) Refranchising (gain) loss (9) 175 (31) 1,683 Net loss (gain) on extinguishment of debt — — 151 (427) Litigation costs 5,198 7,852 12,062 11,660 Severance — 19 — 41 Tax adjustments, net (1) 43 408 273 973 Adjusted net loss $ (48,956) $ (30,905) $ (87,702) $ (63,745) Net loss $ (54,188) $ (39,359) $ (100,157) $ (77,675) Dividends on preferred shares (2,310) (1,920) (4,541) (3,801) $ (56,498) $ (41,279) $ (104,698) $ (81,476) Adjusted net loss $ (48,956) $ (30,904) $ (87,702) $ (63,745) Dividends on preferred shares (2,310) (1,920) (4,541) (3,801) $ (51,266) $ (32,824) $ (92,243) $ (67,546) Loss per basic and diluted share $ (3.17) $ (2.43) $ (5.91) $ (4.80) Adjusted net loss per basic and diluted share $ (2.88) $ (1.93) $ (5.21) $ (3.98) Weighted average basic and diluted shares outstanding 17,821,815 17,007,352 17,702,122 16,977,376 (1) Reflects the tax impact of the adjustments using the effective tax rate for the respective periods.
Business Upturn
29-07-2025
- Business
- Business Upturn
FAT Brands to Announce Second Quarter 2025 Financial Results On July 30, 2025
LOS ANGELES, July 28, 2025 (GLOBE NEWSWIRE) — FAT (Fresh. Authentic. Tasty.) Brands Inc. (NASDAQ: FAT) ('FAT Brands' or the 'Company'), a leading global franchising company and parent company of iconic brands including Round Table Pizza, Fatburger, Johnny Rockets, Twin Peaks, Fazoli's and 13 other restaurant concepts, today announced that the Company will host a conference call to review its second quarter 2025 financial results on Wednesday, July 30, 2025 at 4:30 PM ET. A press release with second quarter 2025 financial results will be issued prior to the conference call that day. The conference call can be accessed live over the phone by dialing 1-877-704-4453 from the U.S. or 1-201-389-0920 internationally. A replay will be available after the call until Wednesday, August 20, 2025, and can be accessed by dialing 1-844-512-2921 from the U.S. or 1-412-317-6671 internationally. The passcode is 13754156. Hosting the call will be Andy Wiederhorn, Chairman, and Ken Kuick, Co-Chief Executive Officer and Chief Financial Officer. The conference call will also be webcast live from the corporate website at under the 'Investors' section. A replay of the webcast will be available through the corporate website shortly after the call has concluded. About FAT (Fresh. Authentic. Tasty.) Brands FAT Brands (NASDAQ: FAT) is a leading global franchising company that strategically acquires, markets, and develops fast casual, quick-service, casual dining, and polished casual dining concepts around the world. The Company currently 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. For more information on FAT Brands, please visit Investor Relations: ICRMichelle Michalski [email protected]
Bloomberg
01-07-2025
- Business
- Bloomberg
FAT Brands' Wiederhorn on Growth, Debt Paydown: Choppin' It Up
Sales almost double when we convert a Smokey Bones to a Twin Peaks, FAT Brands' Chairman Andy Wiederhorn tells Bloomberg Intelligence. In this episode of the Choppin' It Up podcast, Wiederhorn sits down with BI's senior restaurant and foodservice analyst Michael Halen to discuss FAT Brands growth opportunities, including Twin Peaks, and plans to repay debt. He also comments on franchisee health, everyday value and the refranchising of Fazoli's.
