FAT Brands Inc. is an American multi-brand restaurant and sports bar franchise operator headquartered in Beverly Hills, California.
FAT Brands began as a holding company for Fatburger in 2017, gaining a chairman in Ed Rensi. On August 13, 2020, Johnny Rockets was acquired by FAT Brands for $25 million.[2]
In July 2021, FAT purchased Global Franchise Group,[3] now owning Round Table Pizza, Hot Dog on a Stick, Great American Cookies, Pretzelmaker
In May 2022, it was announced FAT Brands had acquired the franchised chain, Nestlé Toll House Café for an undisclosed sum, and plans to convert all 86 locations to Great American Cookies locations.[6]
In September, 2023 FAT purchased Smokey Bones from Sun Capital Partners for $30 million.[7]
In 2024, Andrew Wiederhorn, ex-CEO, current controlling shareholder, and Chairman of the Board of FAT Brands, was indicted on federal criminal charges, accused of taking $47 million in shareholder loans for his personal benefit which were then never paid back, also concealing millions of dollars in reportable compensation and taxable income from the Internal Revenue Service. Former CFO Rebecca D. Hershinger was also accused of assisting Wiederhorn in the scheme.[8] The Board of Directors was never informed about the "loans",[9] Fat Brands never disclosed them as related party transactions to investors, and they were written off after the company merged with its largest shareholder, Fog Cutter Capital Group (also majority-owned by Wiederhorn), in 2020.[10] The U.S. Securities and Exchange Commission and the U.S. Attorneys Office for California had previously opened investigations into the company and Wiederhorn in 2021,[11] and Wiederhorn had resigned as CEO in 2023 as a result of the investigation, later restructuring the Board of Directors with members under his control.[8]
On November 21, 2025, FAT brands filed an 8-K with the SEC and reported debts of approximately $1.6 billion, due immediately, which could result in the company seeking to reorganize through bankruptcy proceedings.[12][13]
On January 26, 2026, FAT Brands filed for Chapter 11 bankruptcy protection in an effort to shed billions of dollars in debt. The company listed assets and liabilities between $1 billion and $10 billion.[14] By January 28, it was reported that 14 Smokey Bones, 2 Johnny Rockets, and all five remaining Yalla Mediterranean locations had permanently closed.[15] That same day, the company accused Wiederhorn of misappropriating cash for lenders in exchange for funding vacations, jewelry and private jets, stating that the company made nearly $200 million in "improper payments" prior to its bankruptcy filing.[16]
As of May 2022, FAT Brands own the following chains:
