The parent company of popular restaurant chains across the country faces financial woes with more than $1.3 billion in debt amid legal battles. FAT Brands Inc., the parent company of 18 global restaurant chains, filed for Chapter 11 bankruptcy protection on Monday, as it struggles to manage a massive debt load and a severe shortage of unrestricted cash. “Our dynamic portfolio of brands has demonstrated tremendous resilience in a challenging restaurant operating environment over the last few years. Just days before the bankruptcy filing, Investor 352 Fund sued the company for $109 million regarding issues tied to Twin Peaks stock. Nasdaq has also threatened to delist FAT Brands because its stock price has remained below $1 for an extended period.