Owner of Johnny Rockets, Fatburger files for bankruptcy

FAT Brands — the owner of multiple restaurant chains including Johnny Rockets, Fatburger and Twin Peaks — has filed for bankruptcy amid debt of more than $1 billion.

The franchiser filed for Chapter 11 on Monday in the U.S. Bankruptcy Court for the Southern District of Texas, according to Fox Business.

FAT operates 18 restaurant brands with more than 2,200 locations. The company said it expects its restaurants to remain open as usual during the bankruptcy proceedings.

Twin Peaks Hospitality Group, a subsidiary that was spun off last year to oversee the Twin Peaks sports bar chain, also filed for bankruptcy, according to a press release. The “mountain-lodge-themed Hooters” has 114 locations across the U.S. and Mexico.

The filings come just months after FAT Brands anno...