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GEN Restaurant Group signed a letter of intent to sell 47 U.S. restaurants to Chubby Group for up to $100 million. The deal includes four development sites, with restaurant transfers planned in four phases over 12 months, starting November 1, 2026. GEN will receive a note convertible into Chubby Group equity at a $1.5
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 rec