“Despite the pandemic, the third quarter proved to be transformative for FAT Brands as we successfully closed the acquisition of Johnny Rockets, completed the public offering of our Series B Preferred Stock, and expanded our whole-business securitization facility with the closing of the $40 million M-2 tranche of our Series 2020 facility. Johnny Rockets adds substantial scale to our platform with 325 locations around the world, 129 franchise partners and $316 million in FY 2019 system-wide sales. We believe there are significant synergies to be realized in the short and long-term and are excited to integrate the iconic Johnny Rockets brand into the Company,” said Andy Wiederhorn, President and CEO of FAT Brands in the company's earnings release.
Wiederhorn joined TheStreet to discuss his thoughts on how Capitol Hill should be supporting the restaurant industry during the ongoing coronavirus pandemic.
Watch the full video above for his full thoughts on the overall industry during the pandemic.
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