Fatburger Owner Is the Latest Casual-Dining Bankruptcy (1)

FAT Brands Inc., the owner of restaurant chains Fatburger, Johnny Rockets and Twin Peaks, filed for bankruptcy, adding to a string of casual-dining brands that have sought court protection from creditors.

The Beverly Hills-based company filed for Chapter 11 bankruptcy in Texas on Monday, court documents show. The company has around $1.45 billion of funded debt obligations outstanding, according to a court filing from FAT Brands’ chief restructuring officer dated Jan. 27.

The step came after FAT Brands didn’t make interest payments due in October on some of its $1.2 billion in whole-business securitization debt. Creditors then called for ...