Iconic burger and bar chain owner faces collapse, Chapter 11

Core Viewpoint - FAT Brands is facing potential bankruptcy not due to a lack of cash flow but because it cannot generate sufficient cash to service its debt obligations [1][2] Group 1: Financial Situation - FAT Brands has been in discussions for 18 months to restructure its debt, but negotiations have not been constructive [2] - The company warned of a possible Chapter 11 bankruptcy filing after a key lender called its note [2][3] - FAT Brands has a total debt of $1.26 billion, with $158.9 million of this amount being immediately due as per a notice from UMB Bank [5][6] Group 2: Company Structure and Brands - FAT Brands owns several well-known restaurant brands, including Johnny Rockets, Ponderosa Steakhouse, Great American Cookie, and Twin Peaks [3] - The company's financial structure is complex, with liabilities spread across five securitization trusts and tied to individual brands [6]