Fast Casual: Despite Losses, FAT Brands CEO Says Holding Company ‘Poised for Growth’

Fast Casual reports that FAT Brands Inc. is touting positive growth projections for 2018. The parent company of Fatburger and Buffalo’s Express reported a net loss of $613,000, translating to $0.07 per share in 2017, but Andy Wiederhorn, the brand’s president and CEO, said on Tuesday that last year was a successful one for the holding company.

FAT Brands was formed in March of 2017 as a subsidiary of Fog Cutter Capital Group Inc. with the purpose of acquiring key brands, including previous subsidiaries of FCCG, and completing an IPO, all of which FAT Brands achieved by the end of 2017.

In a press release for FAT Brands, Wiederhorn said “Not only did we form the company, but we successfully completed an IPO, acquired the Ponderosa and Bonanza Steakhouse brands, and signed a definitive agreement to purchase Hurricane Grill & Wings Hurricane. Our company's foundation is strong, our platform is highly scalable and FAT Brands is poised for growth.”

Read the full article at fastcasual.com.