Frozen dessert fast-food chains are among the favorite shops that consumers enjoy visiting, but financial distress in some cases leads to bankruptcies and closings that disappoint customers. The ice cream shop industry reported 0.9% growth in 2025, according to data from IBISWorld, but still faces economic issues. "Despite the general increase in appetite for ice cream, significant challenges must be navigated," IBISWorld said in the report. Rising milk costs cut into ice cream profits Among the econo ...

For a while, Carlos was winning. The San Francisco business owner built a janitorial business and became a millionaire within a couple years. Then his financial life “spiraled out of control.” (1) By the time he called into The Ramsey Show, 38-year-old Carlos was facing approximately $350,000 in debt. This included more than $70,000 in credit cards, an SBA loan and a $30,000 commercial line of credit. Must Read But the most alarming part of his story was that he hadn’t filed taxes for 2017 and 2018 and ...

A hot-shot hedge fund manager admitted last month that the once-wealthy entrepreneur has just $240,000 left in assets, following a cascade of financial setbacks, including defaulting on a mortgage placed on his family’s $13 million home, being sued by his mother and leading a failed multibillion-dollar casino takeover. Jason Ader, a former Wall Street activist investor known for unseating Marissa Mayer as CEO of Yahoo in 2017, disclosed $1,700 in cash, a Tesla Cybertruck, a Glock G26, an Apple Watch valued ...

By Nicholas P. Brown NEW YORK, Jan 30 (Reuters) - Bankrupt retailer Saks Global is ending its "Saks on Amazon" partnership with e-commerce giant Amazon.com, a source ​with direct knowledge of the decision said on Friday. The partnership was already ‌in dire straits when Saks filed for bankruptcy earlier this month, but the retailer had yet to ‌say outright it was exercising its right under Chapter 11 bankruptcy to reject the contract. On Friday, a source said Saks will wind down its Saks on Amazon sto ...

Core Viewpoint - Twin Hospitality Group, the parent company of Twin Peaks, has filed for Chapter 11 bankruptcy, following a trend in the casual dining sector where similar establishments like Hooters have also faced financial difficulties [1][3]. Group 1: Bankruptcy Filing - Twin Hospitality Group filed for Chapter 11 bankruptcy on January 26, 2025, in the U.S. Bankruptcy Court for the Southern District of Texas [1]. - The bankruptcy filing comes shortly after Fat Brands, which owns Twin Hospitality Group, began converting Smokey Bones locations into Twin Peaks [2]. - The first hearing for the bankruptcy filing is scheduled for January 28, 2025 [3]. Group 2: Company Operations - Twin Peaks operates 114 locations across the United States and Mexico and is expected to remain open during the bankruptcy process [4]. - The company has faced challenging market conditions that have hindered its ability to restructure debt, despite the brand's strength [5]. Group 3: Industry Context - Hooters filed for Chapter 11 bankruptcy in March 2025, addressing $376 million in debt, and closed over 30 locations in June 2025 [3]. - The casual dining sector is experiencing significant challenges, as evidenced by the recent bankruptcies and closures of multiple restaurant chains [5].

Core Insights - FAT Brands has filed for Chapter 11 bankruptcy protection, aiming to reject leases for several closed company-owned restaurants, including locations for Johnny Rockets, Smokey Bones, and Yalla Mediterranean [1][4] - The company operates 18 restaurant chains with over 2,200 locations globally, primarily franchised, and directly owns approximately 150 locations [2] - CEO Andy Wiederhorn expressed confidence in the company's resilience and long-term growth potential, stating that the bankruptcy process will help strengthen its capital structure [3] Company Operations - FAT Brands has announced the closure of 14 Smokey Bones locations, 2 Johnny Rockets, and 5 Yalla Mediterranean locations, with the latter two only in California [4] - The company expects its restaurants to continue operating normally during the bankruptcy process [4] Location Details - Specific closures include locations in California, Florida, Georgia, Illinois, Massachusetts, Michigan, Ohio, Pennsylvania, and Virginia [6][9][12]

Core Viewpoint - Luminar's lidar business has attracted a higher bid of $33 million from MicroVision, surpassing the previous bid of $22 million from Quantum Computing Inc. as the auction concludes in the company's bankruptcy case [1][2]. Group 1: Bidding Process - MicroVision's bid of $33 million exceeds Quantum Computing Inc.'s latest bid of $28 million, which was initially $22 million [2]. - The sale of Luminar's lidar business is pending approval from the judge overseeing the bankruptcy case, with a hearing scheduled for Tuesday afternoon [2]. Group 2: Company Background and Legal Issues - It remains uncertain whether Luminar's founder and former CEO Austin Russell submitted a bid for the lidar assets, although he had previously expressed interest [3]. - Russell and Luminar have been involved in legal disputes regarding a subpoena, with the company considering legal action against him related to his resignation following an ethics inquiry [4]. - Russell has agreed to comply with the subpoena, and a protective order regarding his personal information has been established [5]. Group 3: Bankruptcy Case Progress - The potential sale of the lidar assets could expedite the resolution of Luminar's bankruptcy case, which was filed in December [5]. - Luminar has already reached an agreement to sell its semiconductor division to Quantum Computing Inc. for $110 million [5].

You can find original article here Nrn. Subscribe to our free daily Nrn newsletters. FAT Brands and its affiliates, including Twin Hospitality, have filed for Ch. 11 bankruptcy in the Southern District of Texas, citing the mounting “liabilities and liquidity situation” of the companies.  The bankruptcy filing — estimating both liabilities and assets in the range of $1 to $10 billion — requests joint administration of all FAT Brands affiliates. This includes the previously spun-off Twin Hospitality, ...

As Saks Global barreled toward bankruptcy court this month, its longtime landlord Simon Property Group moved to reclaim a couple of its stores. In a request filed to the Houston federal bankruptcy judge overseeing the case, Simon’s attorney, Jeri Leigh Miller of Sidley Austin, said the landlord terminated its lease with the company’s Neiman Marcus division in the Stanford Shopping Center as well as another lease Saks held at the Woodbury Common Premium Outlets. More from WWD Miller asked the court to co ...

Beleaguered carrier Spirit Airlines may get a lifeline out of bankruptcy.The low-budget carrier is in talks with Castlelake, a global alternative investment firm with approximately $33 billion in assets under management, about a potential takeover, according to CNBC.The airline has long struggled to compete with rival carriers that offer various levels of service and fly to more destinations. Its financial situation became so perilous that the airline was forced into bankruptcy twice in one year. In August, ...