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Fat Brands confidentially submits registration statement for Twin Peaks

a plater with a knife and fork surrounded by triangles rectangles and cutouts of money

Illustration: Tiffany Herring/Axios

Fat Brands, the parent of Fat Burger and Johnny Rockets, said it confidentially filed the registration statement for Twin Peaks and Smokey Bones.

Why it matters: The operating unit would become a standalone public company allowing Fat Brands to raise funds.

Zoom in: Axios previously reported that the company planned to spin off Twin Peaks and Smokey Bones as a publicly traded company to raise funds to reduce debt.

Catch up quick: Fat Brands needs funds to repay a $47 million loan that is alleged to have been fraudulently extracted.

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