Resolution of Legal Matters
The U.S. Department of Justice dismissed all charges against key company figures, and the Delaware derivative cases were settled, resulting in a $10 million insurance payment to the company and contribution of 200,000 shares.
Strategic Leadership Additions
New leadership appointments at Twin Hospitality Group, including Ken Brendemihl as President of Smokey Bones and Lexi Burns as Chief People Officer, position the company for growth.
Cost Reductions
Executed over $10 million in SG&A reductions and expect additional savings, contributing to a stronger financial position.
Casual Dining Segment Growth
Same-store sales in the casual dining segment grew by 3.9%.
International Expansion
Johnny Rockets opened 7 new locations globally, and Fatburger's return to Japan was announced with a new franchise agreement.
Manufacturing Expansion
Georgia production facility generated $9.6 million in sales with a 39.6% margin, operating at only 45% capacity, with expansion potential.
Community Engagement
FAT Brands Foundation awarded 42 grants and raised funds for community initiatives, demonstrating corporate social responsibility.