Restaurant giant files for bankruptcy under massive debt shortly after touting major expansion

Restaurant franchiser FAT Brands, which owns popular fast-casual chains including Fatburger, Johnny Rockets and Twin Peaks, has filed for bankruptcy amid a mounting debt of roughly $1.3 billion.

The California-based company, which oversees 18 restaurant brands with more than 2,200 locations worldwide, filed for Chapter 11 bankruptcy in Texas on Monday.

Its subsidiary, Texas-based Twin Hospitality Group, which spun off from FAT Brands in 2025 primarily to operate the Twin Peaks sports bar chain...