Everyone has a candy from their childhood that perhaps they haven't seen in a few years. For me, it's not so much a personal favorite, but Coffee Nips remind me of my grandparents' house, as my grandmother always had a stash of them. That's not a product you see on store shelves very often, but they are still made. When I see them, I usually take a picture and share it on social media or on the family group text. “Candy is childhood, the best and bright moments you wish could have lasted forever,” wrote ...

This story was originally published on Restaurant Dive. To receive daily news and insights, subscribe to our free daily Restaurant Dive newsletter. Over the past few years, Fat Brands built up a 19-brand portfolio through acquisitions of chains like Round Table Pizza and Johnny Rockets. But those deals came with a significant cost: over $1 billion in debt. While Fat was growing quickly, creating a development pipeline of 1,000 units, economic conditions soured. Consumers pulled back on spending, leading t ...

FAT Brands CEO Andy Wiederhorn made it clear on Jan. 12 at the ICR conference in Orlando that his company might end up filing for Chapter 11 bankruptcy. “We’ve been talking about restructuring this debt for 18 months to two years with our note holders,” Wiederhorn said, according to Nation’s Restaurant News. “It has not been a very constructive negotiation…We’re looking at avenues to lower the debt and make it practical. I wish I could say that this would go quickly and get resolved, but it may take a cou ...

Core Viewpoint - FAT Brands has filed for voluntary Chapter 11 bankruptcy to restructure its debt and capital structure, aiming to enhance stakeholder value and support brand growth [1][2]. Group 1: Bankruptcy Filing Details - The filing follows FAT Brands' missed interest payments on its $1.2 billion debt, as reported by Bloomberg [2]. - Court documents indicate that FAT Brands has assets and liabilities both estimated between $1 billion and $10 billion [2]. - The company operates as a global franchising entity with a portfolio of 18 restaurant brands and over 2,200 locations worldwide [2]. Group 2: Operations During Bankruptcy - Key restaurant brands such as Fatburger, Johnny Rockets, and Round Table Pizza are expected to continue operations throughout the Chapter 11 process [3]. - Trading of FAT Brands' securities on NASDAQ is anticipated to continue with a "Q" suffix during the bankruptcy proceedings [3]. Group 3: Leadership and Strategic Intent - CEO Andy Wiederhorn stated that the Chapter 11 process will allow the company to strengthen its capital structure and maintain its competitive position [4]. - The company plans to engage with stakeholders to develop a value-maximizing plan while protecting their interests [4]. - Wiederhorn returned as CEO in September 2025 after previously resigning in May 2023 amid a federal investigation, which was later dismissed [5].

This story was originally published on Retail Dive. To receive daily news and insights, subscribe to our free daily Retail Dive newsletter. Low inventory due to unpaid invoices and troubled communications with vendors was a major contributor to Saks Global’s disastrous 2025 and eventual bankruptcy in the early days of 2026. The company seems to appreciate this. In its Chapter 11 filing last week, Saks Global Chief Restructuring Officer Mark Weinsten told the court that its “ability to generate income is ...

Core Viewpoint - A U.S. bankruptcy judge has approved a $400 million financing deal for Saks Global Enterprises to support its operations during Chapter 11 bankruptcy, despite opposition from Amazon and other creditors [1][2]. Financing and Bankruptcy Proceedings - Judge Alfredo Perez approved the initial $400 million financing after a lengthy courtroom battle lasting 7.5 hours, with Saks seeking a total of $1.75 billion to remain operational [2]. - Further approvals will be required from the U.S. District & Bankruptcy Court for the Southern District of Texas for the complete financing plan [2]. Opposition from Creditors - Amazon and other creditors have expressed objections to the proposed financing plan, citing concerns over Saks' financial management and the potential impact on their investments [3][6]. - Amazon previously invested $475 million in preferred equity to assist Saks in acquiring Neiman Marcus for $2.65 billion, but now claims that this investment is effectively worthless due to Saks' failure to meet agreed terms [4]. Financial Performance and Obligations - Saks has reportedly failed to meet its financial targets, burning through hundreds of millions of dollars within a year and accumulating significant unpaid invoices to retail partners [5]. - Amazon's legal representatives argue that the new restructuring plan increases Saks' debt burden, further jeopardizing the investments of Amazon and other creditors [6].

Core Viewpoint - STG Logistics has filed for Chapter 11 bankruptcy to restructure and reduce its debt by nearly $1 billion, entering into a restructuring support agreement with lenders that eliminates approximately 91% of its debt and provides $150 million in new debtor-in-possession financing [1][2]. Group 1: Bankruptcy Filing and Restructuring - The company filed for Chapter 11 in a New Jersey bankruptcy court, aiming to reduce its debt load by approximately $952 million [1]. - STG intends to utilize the new capital to support core business operations during the Chapter 11 process and expects to exit bankruptcy in five months [2]. Group 2: Ownership Changes and Management Statements - The debt-for-equity swap will lead to new ownership by private equity firms Antares Capital, Fortress Investment Group, and Invesco, who will exchange their debt claims for stakes in the business post-bankruptcy [3]. - The CEO of STG Logistics stated that it is "business as usual" and that the restructuring will not impact service levels for customers, vendors, and partners [3]. Group 3: Operational Continuity - All facilities remain open and operational, with day-to-day roles, responsibilities, and wages unchanged, allowing STG to continue booking, scheduling, and fulfilling shipments [4]. - The company has filed "first day" motions to ensure continued payment of employee wages and benefits, maintain customer programs, and execute ordinary business functions [4].

Core Viewpoint - Saks Global is seeking up to $1 billion in financing to support its operations amid preparations for a potential Chapter 11 bankruptcy filing, following a missed interest payment of over $100 million due on December 30, 2025 [1][2] Group 1: Financial Situation - The company is negotiating a forbearance agreement with creditors to secure more time for funding or reorganization [2] - Bondholders are considering a debtor-in-possession (DIP) financing package that may involve at least $750 million in new capital [2] - Saks has faced increasing pressure due to inventory issues and strained cash flow, exacerbated after raising billions from bond investors for a turnaround plan [3] Group 2: Leadership Changes - Marc Metrick has stepped down as CEO, with Richard Baker taking over while retaining his role as executive chairman [4][5] - The leadership transition follows Metrick's decision to explore new opportunities, with Baker emphasizing the goal of securing a stable future for the company [5][6] Group 3: Operational Challenges - Despite a debt restructuring agreement in June that provided several hundred million dollars in support, Saks continues to struggle with muted sales and constrained inventory levels [4] - The company aims to leverage its industry expertise and relationships to capitalize on opportunities in the luxury market [6]

Core Viewpoint - Saks Global Enterprises is preparing to secure a loan of up to $1 billion as part of a Chapter 11 bankruptcy filing anticipated in the coming weeks [1] Financial Situation - The luxury retailer has missed an interest payment exceeding $100 million due on December 30 and is negotiating a forbearance with creditors to gain time for a financing agreement or reorganization plan [2] - Discussions among bondholders include a debtor-in-possession loan potentially comprising at least $750 million in new funds and a roll-up of existing debt to facilitate operations post-bankruptcy filing [3] Company Background - Saks has a history of over 150 years and is currently facing liquidity challenges due to inventory and cash-flow pressures, reaching a critical point after raising billions from bond investors for a turnaround plan involving the acquisition of Neiman Marcus [5] - The company has struggled with declining sales and inventory management issues, leading to a 13% year-over-year revenue drop to $1.6 billion in the second quarter [7] Leadership Changes - Amid financial difficulties, the CEO Marc Metrick has stepped down, with Executive Chairman Richard Baker taking over the role [6]

Core Insights - Chapter 11 bankruptcy can provide restaurant chains like Red Lobster an opportunity for restructuring and recovery, leveraging brand value to attract investors [1][2] - Red Lobster filed for Chapter 11 in 2024 due to financial pressures from rising labor costs, unfavorable leases, and supply chain issues, allowing it to restructure debt and secure financial support for continued operations [3] Company Overview: Red Lobster - Red Lobster's successful Chapter 11 reorganization involved streamlining operations, reducing expenses, and establishing a sustainable financial structure [2] - The brand's value plays a crucial role in attracting investment for recovery efforts [1] Company Overview: Don Pablo's - Don Pablo's was once a leading Mexican restaurant chain in the U.S., with over 100 locations at its peak, competing closely with Chi-Chi's [5][7] - The brand was known for high-quality ingredients in its menu offerings, contrasting with fast-food competitors like Taco Bell [6] - Despite its past success, Don Pablo's has no open locations today, highlighting the challenges of maintaining brand relevance in the restaurant industry [4]