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Bankruptcy

Financing

Fat Brands lenders want Andy Wiederhorn suspended

 By Jonathan Maze on Feb. 06, 2026

A group of the fast-food operator’s bondholders want the company’s CEO suspended after a stock sale involving Twin Peaks. They also questioned the executive’s control over the company.

Financing

A 43-location Subway franchisee has filed for bankruptcy

 By Jonathan Maze on Feb. 02, 2026

MTF Enterprises, which operates locations in Pennsylvania, New Hampshire, Maine and Virginia, declared Chapter 11 bankruptcy after a merchant cash advance lender put a lien on its sales revenue.

Financing

Bankrupt Fat Brands' stock gets delisted and takes off anyway

By Jonathan Maze on Jan. 30, 2026

The owner of Twin Peaks and Round Table Pizza won’t fight a delisting notice over its recent Chapter 11 bankruptcy filing. And yet its stock rose 20%.

Financing

Andy Wiederhorn made a big bet on Fat Brands. It did not pay off

By Jonathan Maze on Jan. 28, 2026

The Bottom Line: The fast-food restaurant chain collector took a huge risk in buying up restaurant chains at peak value and with higher interest rates. Then the market turned south.

Financing

Fat Brands, burdened with heavy debt, declares bankruptcy

By Jonathan Maze on Jan. 27, 2026

The owner of Fazoli’s, Round Table Pizza and several other brands is seeking Chapter 11 debt protection. The company’s whole business securitization was “starving the business.”

Financing

Fat Brands is sued by one of its largest bondholders over Twin Peaks stock

By Jonathan Maze on Jan. 26, 2026

352 Capital, a subsidiary of Jefferies Financial Group, is suing the fast-food restaurant chain operator for refusing to hand over shares in the casual-dining brand as collateral.

Financing

Another debt-ridden restaurant bankruptcy

By Jonathan Maze on Jan. 26, 2026

The Bottom Line: This week’s edition of the restaurant finance newsletter looks at the Popeyes franchisee bankruptcy and why financial metrics are crucial operational standards.

Financing

On the bankruptcy of a big Popeyes franchisee

By Jonathan Maze and Lisa Jennings on Jan. 23, 2026

The Week in Restaurants: This week’s episode of the restaurant news discussion podcast looks at the bankruptcy filing of Sailormen, sales improvement at burger chains and who could go public next.

Financing

A lot of restaurant chains announced closures last year

By Jonathan Maze on Jan. 22, 2026

The Bottom Line: Several restaurant chains either announced or were reported to have closed locations as brands look to reset their asset base following a tough year for sales and profitability.

Financing

Popeyes' new management team gets a big, early test

By Jonathan Maze on Jan. 16, 2026

The Bottom Line: The bankruptcy filing of Sailormen is putting pressure on the fast-food chicken chain while proving that franchisors should pay close heed to their franchisees' finances.

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