FAT (Fresh. Authentic. Tasty.) Brands announced plans to acquire the Johnny Rockets fast-casual burger chain from an affiliate of private equity firm Sun Capital Partners Inc. for $25 million. FAT Brands is a global franchising company that acquires, markets and develops fast-casual and casual dining restaurant concepts around the world. Johnny Rockets was founded in… read more

When McDonald’s Corp. fired Stephen Easterbrook, then chief executive officer, he received a severance package valued at nearly $42 million, according to executive compensation experts at Equilar. Now, the company is suing Mr. Easterbrook for the return of the money and a lot more after an investigation found he’d had sexual relationships with at least… read more

McDonald’s Corp. executives believe the worst impacts of the pandemic on sales performance are in the past. In the latest quarter, the restaurant company’s net income dropped 68% and revenues plummeted 30%, driven by temporary restaurant closings, limited operations and dramatic changes in consumer behavior. “As you can see, it remains a dynamic situation as… read more

On Monday, GOP leadership in the Senate introduced a $1 trillion stimulus package—labeled the HEALS Act—that would deliver more checks to citizens, several tweaks to the Paycheck Protection Program, and cut enhanced unemployment benefits by $400. In the $2.2 trillion CARES Act, unemployed workers receive an extra $600 per week on top of state and local… read more

Private equity firm Hargett Hunter Capital Management has agreed to purchase Texas-based chain Trudy’s Texas Star out of bankruptcy for $6.5 million. The firm prevailed at an auction on July 23. A hearing to approve the transaction will be held on August 17. The North Carolina-based firm outbid Austin restaurant Steiner Steakhouse, which bid $6.45 million. The… read more

In mid-March when the novel coronavirus was declared a pandemic, there was uncertainty about what the future would look like. Shoppers wondered what else would run out if they couldn’t even get toilet paper. So, many decided to stock up. Shoppers realized they’d risk exposure if they visited a grocery store. Suddenly they were looking… read more

Angry Crab Shack didn’t waste its quarantine. The 12-unit seafood chain instead used that time to upgrade its menu, packaging, training program and more. Sloane Emden was employed as the general manager of an Angry Crab Shack in Phoenix when the coronavirus shut down his restaurant. Emden spent years working in restaurant kitchens, advancing from… read more

Denny’s Corp. is giving its loyalty-program members a chance to get free delivery for the rest of the year through the Denny’s on Demand platform, the company said. The Spartanburg, S.C.-based family-dining chain said Denny’s Rewards members can place an order via Denny’s on Demand between July 27 and Aug. 9, and then they will… read more

Hoping to avert further shutdowns, the National Restaurant Association on Monday urged the nation’s governors and mayors not to reclose restaurant dining rooms that are operating within current guidelines. In a letter to the National Governors Association and the U.S. Conference of Mayors, Lawrence Lynch, the NRA’s senior vice president, science and industry, wrote that… read more

McDonald’s will require customers at its 14,000 U.S. restaurants to wear face masks starting Aug. 1—while Chipotle’s policy went into effect today—making the fast food chains the latest corporations to implement mandatory mask policies.  Chipotle said that all patrons and employees are now required to wear a mask at the chain’s 2,630 restaurants. McDonald’s said in… read more