GEN Restaurant Group signs LOI to sell 47 US restaurants to Chubby Group for $100 million

GEN Restaurant Group signed a binding LOI with Chubby Group to sell operations at 47 U.S. restaurants for $100 million. GEN will retain the GEN brand and its Korean CPG business, keeping about three restaurants for training and R&D support. Deal aims to cut roughly $160 million of lease liabilities, add a term note receivable, and enable GEN to eliminate outstanding debt. Chubby will run a four-phase, 12-month takeover; GEN keeps operating profits until each site transitions. GEN can convert any unpaid term note balance into Chubby equity at a $1.5 billion valuation; closing targeted within 30 days. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. GEN Restaurant Group Inc. published the original content used to generate this news brief via (Ref. ID: 202610140831ACCESSWRNAPR_____1236655) on October 14, 2026, and is solely responsible for the information contained therein. (C)