Parent company of Johnny Rockets, Fatburger files for bankruptcy

• BUSINESS

LOS ANGELES (KABC) -- The parent company of several restaurant chains, including Johnny Rockets and Fatburger, filed for bankruptcy this week.

Beverly Hills-based Fat Brands, which operates more than 2,200 restaurants, said it filed for Chapter 11 bankruptcy to restructure debt it accumulated while expanding its portfolio.

Fat Brands said its restaurants are expected to remain open during the reorganization process.

Besides Johnny Rockets and Fatburger, the Fat Brands portfolio includes Round Table Pizza and Hot Dog on a Stick.

"Our dynamic portfolio of brands has demonstrated tremendous resilience in a challenging restaurant operating environment over the last few years," Andy Wiederhorn, CEO of Fat Brands, said in a statement. "We are well positioned for long-term profitability and growth.

"The chapter 11 process will provide us with the opportunity to strengthen our capital structure to support our concepts and ensure they remain at the forefront of their sectors."