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 rec