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Exciting news from Fat Brands – they have confidentially filed for an IPO to take their Twin Peaks and Smokey Bones restaurant chains public. This comes shortly after facing legal issues regarding an alleged $47 million loan scheme involving the company’s chair, Andy Wiederhorn.
Last year, Fat Brands had already announced plans to spin off Twin Peaks through an IPO, amidst an ongoing SEC investigation into Wiederhorn. However, recent events have taken a turn with criminal indictments and civil complaints against the company and its key figures.
Despite the legal challenges, both Fat Brands and Wiederhorn have maintained their innocence through legal representation.
2024-05-14 09:56:02
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