FAT Brands (FAT) 10-K 23 Mar 22 2021 FY Annual report Financial data

Cover

Cover - USD ($) $ in Millions	12 Months Ended
	Dec. 26, 2021	Mar. 01, 2022	Jun. 27, 2021
Document Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 26, 2021
Current Fiscal Year End Date	--12-26
Document Transition Report	false
Entity File Number	001-38250
Entity Registrant Name	FAT Brands Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	82-1302696
Entity Address, Address Line One	9720 Wilshire Blvd.
Entity Address, Address Line Two	Suite 500
Entity Address, City or Town	Beverly Hills
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	90212
City Area Code	(310)
Local Phone Number	319-1850
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	false
Entity Shell Company	false
Entity Public Float			$ 58.3
Entity Central Index Key	0001705012
Amendment Flag	false
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2021
Class A Shares
Document Information [Line Items]
Title of 12(b) Security	Class A Common Stock, par value $0.0001 per share
Trading Symbol	FAT
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding		15,117,178
Class B Shares
Document Information [Line Items]
Title of 12(b) Security	Class B Common Stock, par value $0.0001 per share
Trading Symbol	FATBB
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding		1,270,805
Class B Cumulative Preferred Stock
Document Information [Line Items]
Title of 12(b) Security	Series B Cumulative Preferred Stock, par value $0.0001 per share
Trading Symbol	FATBP
Security Exchange Name	NASDAQ
Warrants to Purchase Common Stock
Document Information [Line Items]
Title of 12(b) Security	Warrants to purchase Class A Common Stock
Trading Symbol	FATBW
Security Exchange Name	NASDAQ

Audit Information

Audit Information	12 Months Ended
	Dec. 26, 2021
Audit Information [Abstract]
Auditor Firm ID	32
Auditor Name	Baker Tilly US, LLP
Auditor Location	Los Angeles, California

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 26, 2021	Dec. 27, 2020
Current assets
Cash	$ 56,656	$ 3,944
Restricted cash	24,740	2,867
Accounts receivable, net of allowance for doubtful accounts of $4,016 and $739, as of December 26, 2021 and December 27, 2020, respectively	19,555	4,208
Trade and other notes receivable, net of allowance for doubtful accounts of $129 and $103 as of December 26, 2021 and December 27, 2020, respectively	231	208
Assets classified as held for sale	5,476	10,831
Other current assets	11,853	2,365
Total current assets	118,511	24,423
Noncurrent restricted cash	18,525	400
Notes receivable – noncurrent, net of allowance for doubtful accounts of $271, as of December 26, 2021 and December 27, 2020	3,493	1,622
Deferred income tax asset, net	0	30,551
Operating lease right of use assets	98,552	4,469
Goodwill	295,128	10,909
Other intangible assets, net	652,788	47,711
Property and equipment, net	80,501	483
Other assets	2,534	576
Total assets	1,270,032	121,144
Current liabilities
Accounts payable	27,527	8,625
Accrued expenses and other liabilities	46,295	19,833
Deferred income, current portion	2,636	1,887
Accrued advertising	10,853	2,160
Accrued interest payable	10,678	1,847
Dividend payable on preferred shares	1,574	893
Liabilities related to assets classified as held for sale	4,780	9,892
Current portion of operating lease liability	14,341	748
Current portion of redeemable preferred stock, net	67,500	7,961
Current portion of long-term debt	631	19,314
Current portion of acquisition purchase price payable	1,173	0
Other	10,500	17
Total current liabilities	198,488	73,177
Deferred income – noncurrent	17,662	9,099
Acquisition purchase price payable	0	2,806
Deferred income tax liabilities, net	12,921	0
Operating lease liability, net of current portion	92,920	4,011
Long-term debt, net of current portion	904,265	73,852
Other liabilities	976	82
Total liabilities	1,227,232	163,027
Commitments and contingencies (Note 19)
Redeemable preferred stock	64,455	0
Stockholders’ deficit
Preferred stock, $0.0001 par value; 15,000,000 and 5,000,000 shares authorized; 3,221,471 and 1,183,272 shares issued and outstanding at December 26, 2021 and December 27, 2020, respectively; liquidation preference $25 per share	55,661	21,788
Class A and Class B common stock and additional paid-in capital as of December 26, 2021: $0.0001 par value per share: 51,600,000 shares authorized (Class A 50,000,000, Class B 1,600,000); 16,380,552 shares issued and outstanding (Class A 15,109,747, Class B 1,270,805). Common stock and additional paid-in capital as of December 27, 2020: $0.0001 par value; 25,000,000 shares authorized; 11,926,264 shares issued and outstanding.	(24,837)	(42,775)
Accumulated deficit	(52,479)	(20,896)
Total stockholders’ deficit	(21,655)	(41,883)
Total liabilities and stockholders’ deficit	$ 1,270,032	$ 121,144

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 26, 2021	Dec. 27, 2020
Accounts receivable, allowance for doubtful accounts	$ 4,016	$ 739
Trade and other notes receivable, allowance for doubtful accounts, current	129	103
Notes receivable, allowance for doubtful accounts, noncurrent	$ 271	$ 271
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, authorized (in shares)	15,000,000	5,000,000
Preferred stock, issued (in shares)	3,221,471	1,183,272
Preferred stock, outstanding (in shares)	3,221,471	1,183,272
Preferred stock, liquidation preference (in dollars per share)	$ 25	$ 25
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, authorized (in shares)	51,600,000	25,000,000
Common stock, issued (in shares)	16,380,552	11,926,264
Common stock, outstanding (in shares)	16,380,552	11,926,264
Class A Shares
Common stock, authorized (in shares)	50,000,000
Common stock, issued (in shares)	15,109,747
Common stock, outstanding (in shares)	15,109,747
Class B Shares
Common stock, authorized (in shares)	1,600,000
Common stock, issued (in shares)	1,270,805
Common stock, outstanding (in shares)	1,270,805

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2021	Dec. 27, 2020
Revenue
Total revenue	$ 118,881	$ 18,118
Costs and expenses
General and administrative expense	50,249	14,876
Cost of restaurant and factory revenues	44,242	0
Impairment of goodwill and other intangible assets	1,037	9,295
Refranchising (gain) loss	314	3,827
Acquisition costs	4,242	1,168
Advertising fees	17,973	5,218
Total costs and expenses	118,057	34,384
Income (loss) from operations	824	(16,266)
Other expense
Interest expense, net of interest income of $0 and $3,631 due from affiliates during the fiscal year ended December 26, 2021 and December 27, 2020, respectively	(26,864)	(3,375)
Interest expense related to preferred shares	(2,193)	(1,544)
Loss on extinguishment of debt	(7,637)	(88)
Change in fair value of derivative liability	0	887
Gain on contingent consideration payable adjustment	0	1,680
Other income, net	750	157
Total other expense, net	(35,944)	(2,283)
Loss before income tax benefit	(35,120)	(18,549)
Income tax benefit	(3,537)	(3,689)
Net loss	$ (31,583)	$ (14,860)
Basic loss per common share (in dollars per share)	$ (2.15)	$ (1.25)
Diluted loss per common share (in dollars per share)	$ (2.15)	$ (1.25)
Basic weighted average shares outstanding (in shares)	14,656,880	11,897,952
Diluted weighted average shares outstanding (in shares)	14,656,880	11,897,952
Cash dividends declared per common share (in dollars per share)	$ 0.52	$ 0
Royalties
Revenue
Total revenue	$ 42,658	$ 13,420
Restaurant sales
Revenue
Total revenue	41,563	0
Advertising fees
Revenue
Total revenue	16,728	3,527
Factory revenues
Revenue
Total revenue	13,470	0
Franchise fees
Revenue
Total revenue	4,023	1,130
Management fees and other income
Revenue
Total revenue	$ 439	$ 41

Consolidated Statements of Op_2

Consolidated Statements of Operations (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2021	Dec. 27, 2020
Income Statement [Abstract]
Interest income, due from affiliates	$ 0	$ 3,631

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' (Deficit) Equity - USD ($) $ in Thousands	Total	Class A Shares	Class B Shares	Class A par value	Class B par value	Additional paid-in capital	Total Common Stock	Preferred Stock Shares	Preferred Stock Par Value	Preferred Stock Additional paid-in capital	Total Preferred Stock	Non- controlling interest	Accumulated deficit
Beginning balance (in shares) at Dec. 29, 2019		11,860,299						0
Beginning balance at Dec. 29, 2019	$ 5,378			$ 1		$ 11,413	$ 11,414		$ 0	$ 0	$ 0		$ (6,036)
Net loss	(14,860)												(14,860)
Issuance of common stock in lieu of cash director fees payable (in shares)		65,965
Issuance of common stock in lieu of cash director fees payable	240					240	240
Issuance of preferred stock (in shares)								360,000
Issuance of preferred stock	6,134									6,134	6,134
Exchange of original Series B preferred stock for newly issued Series B preferred stock (in shares)								60,677
Exchange of original Series B preferred stock for newly issued Series B preferred stock	1,224									1,224	1,224
Exchange of Series A preferred stock for newly issued Series B preferred stock (in shares)								74,449
Exchange of Series A preferred stock for newly issued Series B preferred stock	1,861									1,861	1,861
Exchange of Series A-1 preferred stock for newly issued Series B preferred stock (in shares)								168,001
Exchange of Series A-1 preferred stock for newly issued Series B preferred stock	4,200									4,200	4,200
Series B preferred stock issued in Special Dividend (in shares)								520,145
Series B preferred stock issued in Special Dividend	(29)					(8,914)	(8,914)			8,885	8,885
Share-based compensation	99					99	99
Extinguishment of derivative liability	(887)					(887)	(887)
Grant of warrants to purchase stock	2,259					2,259	2,259
Repurchase of warrants	(742)					(742)	(742)
Dividends declared on Series B preferred stock	(516)									(516)	(516)
Inclusion of accumulated deficit of FCCG entities acquired in the Merger	(46,153)					(46,153)	(46,153)
Correction of recorded conversion rights associated with Series A-1 preferred shares	(91)					(91)	(91)
Ending balance (in shares) at Dec. 27, 2020		11,926,264	0					1,183,272
Ending balance at Dec. 27, 2020	(41,883)			1	$ 0	(42,776)	(42,775)		0	21,788	21,788	$ 0	(20,896)
Net loss	(31,583)												(31,583)
Issuance of common stock through exercise of warrants	2,566					2,091	2,091			475	475
Issuance of preferred stock (in shares)								1,560,000
Issuance of preferred stock	26,732									26,732	26,732
Share-based compensation (in shares)		300,000
Share-based compensation	1,642					1,642	1,642
Measurement period adjustment in accordance with ASU 2015-16	(1,381)					(1,381)	(1,381)
Stock contracted for issue in payment of debt (in shares)		63,901
Stock contracted for issue in payment of debt	831					831	831
Dividends declared on common stock	(7,442)					(7,442)	(7,442)
Dividends declared on Series B preferred stock	(4,084)									(4,084)	(4,084)
Issuance of common stock in connection with acquisition of LS GFG Holdings Inc. (in shares)		1,964,865
Issuance of common stock in connection with acquisition of LS GFG Holdings Inc.	22,537					22,537	22,537
Stock dividend of Class B Shares (in shares)		294,729	1,270,805
Stock dividend of Class B Shares	(25)			1		(26)	(25)
Issuance costs related to common equity	(315)					(315)	(315)
Series A Preferred shares retired through issuance of Series B Preferred shares (in shares)								478,199
Series A Preferred shares retired through issuance of Series B Preferred shares	10,750									10,750	10,750
Ending balance (in shares) at Dec. 26, 2021		15,109,747	1,270,805					3,221,471
Ending balance at Dec. 26, 2021	$ (21,655)			$ 2	$ 0	$ (24,839)	$ (24,837)		$ 0	$ 55,661	$ 55,661	$ 0	$ (52,479)

Consolidated Statement of Cash

Consolidated Statement of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2021	Dec. 27, 2020
Net Cash Provided by (Used in) Operating Activities [Abstract]
Net loss	$ (31,583)	$ (14,860)
Adjustments to reconcile net loss to net cash used in operations:
Deferred income taxes	(5,337)	(4,077)
Net loss on extinguishment of debt	6,087	88
Depreciation and amortization	8,568	1,172
Share-based compensation	1,642	99
Change in operating right of use assets	3,851	1,255
Accretion of loan fees and interest	2,787	973
Accretion of preferred shares	26	62
Accretion of purchase price liability	95	481
Gain on sale of refranchised assets	(2,681)	55
Change in fair value of derivative liability	0	(887)
Impairment of goodwill and other intangible assets	1,037	9,295
Provision for bad debts	1,843	981
Gain on adjustment of contingent consideration payable	0	(1,680)
Other	181	0
Change in:
Accounts receivable	(4,705)	554
Accrued interest receivable from affiliate	0	(3,631)
Other current assets	(1,533)	(992)
Deferred income	768	(144)
Accounts payable	5,374	(9)
Accrued expense	3,002	(1,678)
Accrued advertising	1,894	1,398
Accrued interest payable	8,831	585
Dividend payable on preferred shares	1,188	(531)
Other	(653)	7
Total adjustments	32,265	3,376
Net cash provided by (used in) operating activities	682	(11,484)
Cash flows from investing activities
Change in due from affiliates		(13,359)
Proceeds from sale of real estate	4,233	0
Acquisition of subsidiaries, net of cash acquired	(721,382)	(23,918)
Payments received on loans receivable	212	69
Net proceeds from sale of refranchised restaurants	2,692	1,093
Purchases of property and equipment	(10,422)	(460)
Purchase deposits on refranchised restaurants	1,500	0
Other	(33)	0
Net cash used in investing activities	(723,200)	(36,575)
Cash flows from financing activities
Proceeds from borrowings, net of issuance costs	897,215	74,294
Repayments of borrowings	(93,279)	(24,295)
Issuance of preferred shares, net	26,732	8,122
Change in operating lease liabilities	(3,595)	(816)
Payments made on acquisition purchase price liability	(1,075)	(500)
Exercise of warrants	2,567	0
Repurchase of warrants	0	(742)
Redemption of preferred stock	0	(500)
Dividends paid on redeemable preferred stock	(2,283)	0
Dividends paid on common shares	(7,468)	0
Dividends paid on preferred shares	(3,559)	(318)
Other	(27)	0
Net cash provided by financing activities	815,228	55,245
Net increase in cash and restricted cash	92,710	7,186
Cash and restricted cash at beginning of the period	7,211	25
Cash and restricted cash at end of the period	99,921	7,211
Supplemental disclosures of cash flow information:
Cash paid for interest	14,978	6,403
Cash paid for income taxes	842	167
Supplemental disclosure of non-cash financing and investing activities:
Director fees converted to common stock	15	240
Issuance of preferred stock in lieu of cash preferred dividends payable	1,564	450
Income taxes receivable included in amounts due from affiliates	$ 0	$ (158)

Organization and Relationships

Organization and Relationships	12 Months Ended
	Dec. 27, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Relationships	ORGANIZATION AND RELATIONSHIPS Organization and Nature of Business FAT Brands Inc. (the “Company”) is a leading multi-brand restaurant franchising company that develops, markets and acquires primarily quick-service, fast casual, casual and polished casual dining restaurant concepts around the world. Organized in March 2017 as a wholly owned subsidiary of Fog Cutter Capital Group, Inc. (“FCCG”), the Company completed its initial public offering on October 20, 2017 and issued additional shares of common stock representing 20 percent of its ownership upon completion of the offering. During the fourth quarter of 2020, the Company completed a transaction in which FCCG merged into a wholly owned subsidiary of the Company, and the Company became the parent of FCCG. As of December 26, 2021, the Company owned seventeen restaurant brands: R ound Table Pizza, Fatburger, Marble Slab Creamery, Johnny Rockets, Fazoli's, Twin Peaks, Great American Cookies, Hot Dog on a Stick, Buffalo’s Cafe & Express, Hurricane Grill & Wings, Pretzelmaker, Elevation Burger, Native Grill & Wings, Yalla Mediterranean and Ponderosa and Bonanza Steakhouses. As of December 26, 2021, the Company had 2,369 locations. Of this amount, 2,240 were franchised, representing approximately 95% of total restaurants. Each franchising subsidiary licenses the right to use its brand name and provides franchisees with operating procedures and methods of merchandising. Upon signing a franchise agreement, the franchisor is committed to provide training, some supervision and assistance, and access to operations manuals. As needed, the franchisor will also provide advice and written materials concerning techniques of managing and operating the restaurants. The Company’s operations have historically been comprised primarily of franchising a growing portfolio of restaurant brands. This growth strategy is centered on expanding the footprint of existing brands and acquiring new brands through a centralized management organization which provides substantially all executive leadership, marketing, training and accounting services. As part of these ongoing franchising efforts, the Company will, from time to time, make opportunistic acquisitions of operating restaurants and may convert them to franchise locations. During the refranchising period, the Company may operate the restaurants and classifies the operational activities as refranchising gains or losses and the assets and associated liabilities as held-for sale. Through recent acquisitions, the Company also operates "company owned" restaurant locations of certain brands. Our revenues are derived primarily from two sales channels, franchised restaurants and company owned restaurants, which we operate as one segment. COVID-19 In March 2020, the World Health Organization declared the outbreak of a novel coronavirus (COVID-19) as a pandemic, which continues to spread throughout the United States and other countries. As a result, at certain times the Company franchisees temporarily closed some retail locations, modified store operating hours, adopted a “to-go” only operating model, or a combination of these actions. These actions have reduced consumer traffic, all resulting in a negative impact to franchisee and Company revenues. While the disruption to our business from the COVID-19 pandemic is currently expected to be temporary, there is a great deal of uncertainty around the severity and duration of the disruption. We may experience longer-term effects on our business and economic growth and changes in consumer demand in the U.S. and worldwide. The effects of COVID-19 may materially adversely affect our business, results of operations, liquidity and ability to service our existing debt, particularly if these effects continue in place for a significant amount of time. Liquidity The Company recognized income from operations of $0.8 million and loss from operations of $16.3 million during fiscal 2021 and 2020, respectively. The Company has a history of net losses and an accumulated deficit of $52.5 million as of December 26, 2021. Additionally, as of December 26, 2021, the Company had negative working capital of $80.0 million. Of this amount, $67.5 million represents the current portion of redeemable preferred stock as discussed in Note 14. If the Company does not deliver the applicable cash proceeds at the related due dates, the amount then due will accrue interest at a rate of 10.0% per annum until the repayment is completed. The Company had $56.7 million of unrestricted cash as of December 26, 2021 and plans on the combination of operating results and cash on hand to be sufficient to cover any working capital requirements for the next twelve months from the date of this report. If the Company does not achieve its operating plan, additional forms of financing may be required through the issuance of debt or equity. Although management believes it will have access to financing, no assurances can be given that such financing will be available on acceptable terms, in a timely manner or at all.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 26, 2021
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Nature of operations – The Company operates on a 52-week calendar and its fiscal year ends on the last Sunday of the calendar year. Consistent with the industry practice, the Company measures its stores’ performance based upon 7-day work weeks. Using the 52-week cycle ensures consistent weekly reporting for operations and ensures that each week has the same days, since certain days are more profitable than others. The use of this fiscal year means a 53 rd week is added to the fiscal year every 5 or 6 years. In a 52-week year, all four quarters are comprised of 13 weeks. In a 53-week year, one extra week is added to the fourth quarter. Both fiscal 2021 and 2020 were 52-week years. Our revenues are derived from two sales channels, franchised restaurants and company owned locations, which we operate as one reportable segment. Principles of consolidation – The accompanying consolidated financial statements include the accounts of the Company and its subsidiaries. Newly acquired subsidiaries are included from the date of acquisition. Intercompany accounts have been eliminated in consolidation. Use of estimates in the preparation of the consolidated financial statements – The preparation of the consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates include the determination of fair values of goodwill and other intangible assets, the allocation of basis between assets acquired, sold or retained, allowances for uncollectible notes receivable and accounts receivable, and the valuation allowance related to deferred tax assets. Estimates and assumptions also affect the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Financial statement reclassification – Certain account balances from prior periods have been reclassified in these consolidated financial statements to conform to current period classifications. Credit and Depository Risks – Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash and accounts receivable. Management evaluates each of its franchisee’s financial condition prior to entry into a franchise or other agreement, as well as periodically through the term of the agreement, and believes that it has adequately provided for any exposure to potential credit losses. As of December 26, 2021 and December 27, 2020, accounts receivable, net of allowance for doubtful accounts, totaled $19.6 million and $4.2 million, with no franchisee representing more than 10% of that amount. Restricted Cash – The Company has restricted cash consisting of funds required to be held in trust in connection with its securitized debt. The current portion of restricted cash was $24.7 million and $2.9 million as of December 26, 2021 and December 27, 2020, respectively. Non-current restricted cash of $18.5 million and $0.4 million as of December 26, 2021 and December 27, 2020, respectively, represents interest reserves required to be set aside for the duration of the securitized debt. Accounts receivable – Accounts receivable are recorded at the invoiced amount and are stated net of an allowance for doubtful accounts. The allowance for doubtful accounts is the Company’s best estimate of the amount of probable credit losses in the existing accounts receivable. The allowance is based on historical collection data and current franchisee information. Account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. As of December 26, 2021 and December 27, 2020 accounts receivable was stated net of an allowance for doubtful accounts of $4.0 million and $0.7 million, respectively. Trade notes receivable – Trade notes receivable are created when an agreement is reached to settle a delinquent franchisee receivable account and the entire balance is not immediately paid. Generally, trade notes receivable include personal guarantees from the franchisee. The notes are made for the shortest time frame negotiable and generally carry an interest rate of 6% to 7.5%. Reserve amounts on the notes are established based on the likelihood of collection. As of December 26, 2021, there were net trade notes receivable recorded on the financial statements in the amount of $0.5 million. Assets classified as held for sale – Assets are classified as held for sale when the Company commits to a plan to sell the asset, the asset is available for immediate sale in its present condition and an active program to locate a buyer at a reasonable price has been initiated. The sale of these assets is generally expected to be completed within one year. The combined assets are valued at the lower of their carrying amount or fair value, net of costs to sell and included as current assets on the Company’s consolidated balance sheet. Assets classified as held for sale are not depreciated. However, interest attributable to the liabilities associated with assets classified as held for sale and other related expenses are recorded as expenses in the Company’s consolidated statement of operations. Goodwill and other intangible assets – Intangible assets are stated at the estimated fair value at the date of acquisition and include goodwill, trademarks, and franchise agreements. Goodwill and other intangible assets with indefinite lives, such as trademarks, are not amortized but are reviewed for impairment annually or more frequently if indicators arise. All other intangible assets are amortized over their estimated weighted average useful lives, which range from nine Fair Value Measurements - The Company determines the fair market values of its financial assets and liabilities, as well as non-financial assets and liabilities that are recognized or disclosed at fair value on a recurring basis, based on the fair value hierarchy established in U.S. GAAP. As necessary, the Company measures its financial assets and liabilities using inputs from the following three levels of the fair value hierarchy: • Level 1 inputs are quoted prices in active markets for identical assets or liabilities. • Level 2 inputs are observable for the asset or liability, either directly or indirectly, including quoted prices in active markets for similar assets or liabilities. • Level 3 inputs are unobservable and reflect the Company’s own assumptions. Other than a derivative liability that existed during part of 2020 and the contingent consideration payable liabilities, the Company does not have a material amount of financial assets or liabilities that are required to be measured at fair value on a recurring basis under U.S. GAAP (See Note 12). None of the Company’s non-financial assets or non-financial liabilities are required to be measured at fair value on a recurring basis. Income taxes – Effective October 20, 2017, the Company entered into a Tax Sharing Agreement with FCCG that provides that FCCG would, in summary, file consolidated income tax returns with the Company and its subsidiaries. The Company would pay FCCG the amount that its tax liability would have been had it filed a separate return. As such, prior to the Merger, the Company accounted for income taxes as if it filed separately from FCCG. The Tax Sharing Agreement was cancelled at the time of the Merger. The Company accounts for income taxes under the asset and liability method. Under this method, deferred tax assets and liabilities are determined based on the differences between financial reporting and tax reporting bases of assets and liabilities and are measured using enacted tax rates and laws that are expected to be in effect when the differences are expected to reverse. Realization of deferred tax assets is dependent upon future earnings, the timing and amount of which are uncertain. A valuation allowance is recognized when the realization of our deferred tax assets is expected to be less than our carrying amounts. A two-step approach is utilized to recognize and measure uncertain tax positions. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates that it is more likely than not that the position will be sustained upon tax authority examination, including resolution of related appeals or litigation processes, if any. The second step is to measure the tax benefit as the largest amount that is more than 50% likely of being realized upon the ultimate settlement. Franchise Fees: The franchise arrangement is documented in the form of a franchise agreement. The franchise arrangement requires the Company to perform various activities to support the brand that do not directly transfer goods and services to the franchisee, but instead represent a single performance obligation, which includes the transfer of the franchise license. The services provided by the Company are highly interrelated with the franchise license and are considered a single performance obligation. Franchise fee revenue from the sale of individual franchises is recognized over the term of the individual franchise agreement on a straight-line basis. Unamortized non-refundable deposits collected in relation to the sale of franchises are recorded as deferred franchise fees. The franchise fee may be adjusted from time to time at management’s discretion. Deposits are non-refundable upon acceptance of the franchise application. In the event a franchisee does not comply with their development timeline for opening franchise stores, the franchise rights may be terminated, at which point the franchise fee revenue is recognized for non-refundable deposits. Royalties – In addition to franchise fee revenue, the Company collects a royalty calculated as a percentage of net sales from our franchisees. Royalties range from 0.75% to 7.0% and are recognized as revenue when the related sales are made by the franchisees. Royalties collected in advance of sales are classified as deferred income until earned. Company Owned Restaurant Revenue - Company owned restaurant revenue is recognized at the point in time when food and beverage products are sold. We present company restaurant sales net of sales-related taxes collected from customers and remitted to governmental taxing authorities. Advertising – The Company requires advertising fee payments from franchisees based on a percent of net sales. The Company also receives, from time to time, payments from vendors that are to be used for advertising. Advertising funds collected are required to be spent for specific advertising purposes. Advertising revenue and the associated expense are recorded gross on the Company’s consolidated statement of operations. Assets and liabilities associated with the related advertising fees are reflected in the Company’s consolidated balance sheet. Share-based compensation – The Company has a stock option plan which provides for options to purchase shares of the Company’s common stock. Options issued under the plan may have a variety of terms as determined by the Board of Directors including the option term, the exercise price and the vesting period. Options granted to employees and directors are valued at the date of grant and recognized as an expense over the vesting period in which the options are earned. Cancellations or forfeitures are accounted for as they occur. Stock options issued to non-employees as compensation for services are accounted for based upon the estimated fair value of the stock option. The Company recognizes this expense over the period in which the services are provided. Management utilizes the Black-Scholes option-pricing model to determine the fair value of the stock options issued by the Company. See Note 16 for more details on the Company’s share-based compensation. Earnings per share – The Company reports basic earnings or loss per share in accordance with FASB ASC 260, “ Earnings Per Share ”. Basic earnings per share is computed using the weighted average number of common shares outstanding during the reporting period. Diluted earnings per share is computed using the weighted average number of common shares outstanding plus the effect of dilutive securities during the reporting period. Any potentially dilutive securities that have an anti-dilutive impact on the per share calculation are excluded. During periods in which the Company reports a net loss, diluted weighted average shares outstanding are equal to basic weighted average shares outstanding because the effect of the inclusion of all potentially dilutive securities would be anti-dilutive. As of December 26, 2021, and December 27, 2020, there were no potentially dilutive securities considered in the calculation of diluted loss per common share due to net losses for each period. Recently Issued Accounting Standards In June 2016, the FASB issued ASU 2016-13, Financial Instruments-Credit Losses (Topic 326)-Measurement of Credit Losses on Financial Instruments, and later amended the ASU in 2019, as described below. This guidance replaces the current incurred loss impairment methodology. Under the new guidance, on initial recognition and at each reporting period, an entity is required to recognize an allowance that reflects its current estimate of credit losses expected to be incurred over the life of the financial instrument based on historical experience, current conditions and reasonable and supportable forecasts. In November 2019, the FASB issued ASU No. 2019-10, Financial Instruments - Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842): Effective Dates (“ASU 2019-10”)

Mergers and Acquisitions

Mergers and Acquisitions	12 Months Ended
	Dec. 26, 2021
Business Combination and Asset Acquisition [Abstract]
Mergers and Acquisitions	MERGERS AND ACQUISITIONS Acquisition of Fazoli's On December 15, 2021, the Company completed the acquisition of Fazoli's for a total cash purchase price of $137.1 million. Founded in 1988 in Lexington, KY, Fazoli’s owns and operates nearly 220 restaurants in 27 states, making it the largest premium QSR Italian chain in America. Fazoli’s prides itself on serving premium quality Italian food, fast, fresh and friendly. Menu offerings include freshly prepared pasta entrees, Submarinos ® sandwiches, salads, pizza and desserts – along with its unlimited signature breadsticks. The preliminary assessment of the fair value of the net assets and liabilities acquired by the Company through the acquisition of GFG was estimated at $137.1 million. This preliminary assessment of fair value of the net assets and liabilities as well as the final purchase price were estimated at closing and are subject to change. The Company recorded revenues of $3.2 million and net income of $0.1 million relating to Fazoli's operations from the date of acquisition through December 26, 2021. Acquisition of Native Grill & Wings On December 15, 2021, the Company completed the acquisition of Native Grill & Wings (“Native”) for a total cash purchase price of $20.1 million. Based in Chandler, Arizona, Native Grill & Wings is a family-friendly, polished sports grill with 23 franchised locations throughout Arizona, Illinois, and Texas. Native serves over 20 award-winning wing flavors that guests can order by the individual wing, as well as an extensive menu of pizza, burgers, sandwiches, salads and more. The preliminary assessment of the fair value of the net assets and liabilities acquired by the Company through the acquisition of GFG was estimated at $20.1 million. This preliminary assessment of fair value of the net assets and liabilities as well as the final purchase price were estimated at closing and are subject to change. The Company recorded revenues of $0.3 million and net income of $0.2 million relating to Native's operations from the date of acquisition through December 26, 2021. Acquisition of Twin Peaks On October 01, 2021, the Company completed the acquisition of Twin Peaks Buyer, LLC (“Twin Peaks”) from Twin Peaks Holdings, LLC (the “Seller”). Twin Peaks is the franchisor and operator of a chain of sports lodge themed restaurants. The purchase price totaled $310.3 million (before reduction for cash acquired in the acquisition), comprised of $232.5 million in cash, a note payable in the amount of $10.3 million and 2,847,393 shares of the Company’s Series B Cumulative Preferred Stock (the "Preferred Stock Consideration") valued at $67.5 million. The Seller has agreed to a lock-up period with respect to the Preferred Stock Consideration, during which time the Seller may not offer, sell or transfer any interest in such shares. The lock-up provisions restrict sales until March 31, 2022 for 1,793,858 shares (the “Initial Put/Call Shares”) and September 30, 2022 for the remaining 1,053,535 shares (the “Secondary Put/Call Shares”), subject to certain exceptions set forth in the Put/Call Agreement (as defined below). On October 01, 2021, the Company and the Seller entered into a Put/Call Agreement (the “Put/Call Agreement”) pursuant to which the Company was granted the right to call from the Seller, and the Seller was granted the right to put to the Company, the Initial Put/Call Shares at any time until March 31, 2022 for a cash payment of $42.5 million, and the Secondary Put/Call Shares at any time until September 30, 2022 for a cash payment of $25.0 million, plus any accrued but unpaid dividends on such shares. If the Company does not deliver the applicable cash proceeds to the Seller when due if the Seller exercises its put rights, the amounts then due will accrue interest at the rate of 10.0% per annum until payment is completed. On October 7, 2021, the Company received a put notice on the Initial Put/Call Shares and the Secondary Put/Call Shares. Founded in 2005 in the Dallas suburb of Lewisville, Twin Peaks, a sports lodge concept now has 87 locations in 26 states. The preliminary assessment of the fair value of the net assets and liabilities acquired by the Company through the acquisition of Twin Peaks was estimated at $310.3 million. This preliminary assessment of fair value of the net assets and liabilities as well as the final purchase price were estimated at closing and are subject to change. The Company recorded revenues of $35.3 million and net income of $2.0 million relating to Twin Peak's operations from the date of acquisition through December 26, 2021. Acquisition of GFG Holdings Inc. On July 22, 2021, the Company completed the acquisition of LS GFG Holdings Inc. (“GFG”) for a total purchase price of $444.9 million, paid by the Company in the form of $355.1 million in cash, 3,089,245 shares of the Company’s Series B Cumulative Preferred Stock, valued at $67.3 million, and 1,964,865 shares of the Company’s Common Stock, valued at $22.5 million . (the “GFG Acquisition”). Additionally, on July 22, 2021, the Company entered into a put/call agreement with the GFG Sellers, pursuant to which the Company may purchase, or the GFG Sellers may require the Company to purchase 3,089,245 shares of Series B Cumulative Preferred Stock for $67.5 million plus any accrued but unpaid dividends on or before April 22, 2022. (See Note 14) GFG is a franchisor of five restaurant brands. GFG’s brands (Great American Cookies, Marble Slab Creamery, Pretzelmaker, Hot Dog on a Stick and Round Table Pizza) are in the quick service restaurant (QSR) industry. The franchise network, across all of the Company’s brands, consists of approximately 1,430 retail stores in 12 countries. GFG also operates a dough manufacturing facility which supplies dough to certain of the GFG brands. The preliminary assessment of the fair value of the net assets and liabilities acquired by the Company through the acquisition of GFG was estimated at $444.9 million. This preliminary assessment of fair value of the net assets and liabilities as well as the final purchase price were estimated at closing and are subject to change. The Company recorded revenues of $46.6 million and net income of $9.4 million relating to GFG's operations from the date of acquisition through December 26, 2021. Merger with Fog Cutter Capital Group Inc. On December 10, 2020, the Company entered into an Agreement and Plan of Merger (the “Merger Agreement”) with FCCG, Fog Cutter Acquisition, LLC, a Delaware limited liability company and wholly owned subsidiary of the Company (“Merger Sub”), and Fog Cutter Holdings, LLC, a Delaware limited liability company (“Holdings”). Pursuant to the Merger Agreement, FCCG agreed to merge with and into Merger Sub, with Merger Sub surviving as a wholly owned subsidiary of the Company (the “Merger”). Upon closing of the Merger on December 24, 2020, the former stockholders of FCCG became direct stockholders of the Company holding, in the aggregate, 9,679,288 shares of the Company’s common stock (the same number of shares of common stock held by FCCG immediately prior to the Merger) and received certain limited registration rights with respect to the shares received in the Merger. As a result of the Merger, FCCG and certain of its wholly owned subsidiaries, Homestyle Dining, LLC, Fog Cap Development LLC, Fog Cap Acceptance Inc. and BC Canyon LLC, became indirect wholly owned subsidiaries of the Company (the “Merged Entities”). Under the Merger Agreement, Holdings has agreed to indemnify the Company for breaches of FCCG’s representations and warranties, covenants and certain other matters specified in the Merger Agreement, subject to certain exceptions and qualifications. Holdings has also agreed to hold a minimum fair market value of shares of Common Stock of the Company to ensure that it has assets available to satisfy such indemnification obligations if necessary. In connection with the Merger, the Company declared a special stock dividend (the “Special Dividend”) payable on the record date to holders of our Common Stock, other than FCCG, consisting of 0.2319998077 shares of the Company’s 8.25% Series B Cumulative Preferred Stock (liquidation preference $25.00 per share) (the “Series B Preferred Stock”) for each outstanding share of Common Stock held by such stockholders, with the value of any fractional shares of Series B Preferred Stock being paid in cash. FCCG did not receive any portion of the Special Dividend, which had a record date of December 21, 2020 and payment date of December 23, 2020. The Special Dividend was expressly conditioned upon the satisfaction or valid waiver of the conditions to closing of the Merger set forth in the Merger Agreement. The Special Dividend was intended to reflect consideration for the potential financial impact of the Merger on the common stockholders other than FCCG, including the assumption of certain debts and obligations of FCCG by the Company by virtue of the Merger. The Company undertook the Merger primarily to simplify its corporate structure and eliminate limitations that restrict the Company’s ability to issue additional Common Stock for acquisitions and capital raising. FCCG holds a substantial amount of net operating loss carryforwards (“NOLs”), which could only be made available to the Company as long as FCCG owned at least 80% of FAT Brands. With the Merger, the NOLs will be held directly by the Company, which will then have greater flexibility in managing its capital structure. In addition, after the Merger the Company will no longer be required to compensate FCCG for utilizing its NOLs under the Tax Sharing Agreement previously in effect between the Company and FCCG. The Merger is treated under ASC 805-50-30-6, which provides that when there is a transfer of assets or exchange of shares between entities under common control, the receiving entity shall recognize those assets and liabilities at their net carrying amounts at the date of transfer. As such, on the date of the Merger, all of the transferred assets and assumed liabilities of the Merged Entities were recorded on the Company’s books at the Merged Entities’ book value. The consolidation of the operations of the Merged Entities with the Company is presented on a prospective basis from the date of transfer. Acquisition of Johnny Rockets On September 21, 2020, the Company completed the acquisition of Johnny Rockets Holding Co., a Delaware corporation (“Johnny Rockets”) for a cash purchase price of approximately $24.7 million. The transaction was funded with proceeds from an increase in the Company’s securitization facility (See Note 12). The assessment of the fair value of the net assets and liabilities acquired by the Company through the acquisition of Johnny Rockets was $24.7 million. The allocation of the consideration to the valuation of net tangible and intangible assets acquired in the transactions described above is presented in the following table (in thousands). The allocations relating to Fazoli's, Native Grill & Wings, Twin Peaks and GFG are preliminary and subject to change: Fazoli's Native Grill & Wings Twin Peaks GFG FCCG Johnny Rockets Cash $ 9,621 $ 200 $ 14,882 $ 8,737 $ — $ 812 Accounts receivable 3,295 311 1,604 7,268 — 1,452 Assets held for sale — — — — — 10,765 Prepaids and other current assets 1,817 97 2,822 3,818 33 — Notes receivable — — 1,500 — — — Other intangible assets, net 83,300 14,900 165,375 348,250 — 26,900 Goodwill 52,939 5,022 105,115 122,864 — — Right of use assets 43,062 209 43,748 6,514 — — Property, plant and equipment 21,996 61 46,847 8,380 — — Deferred tax asset, net — — 221 — 20,402 4,297 Other assets 304 — 543 1,181 100 438 Accounts payable (5,770) (5) (5,159) (2,427) (926) (1,113) Accrued expenses (7,430) (224) (6,418) (10,060) (6,973) (3,740) Accrued advertising — (89) (3,503) (3,207) — — Deferred income (1,522) (179) (3,618) (3,224) — (4,988) Litigation reserve — — — — (3,980) — Due to affiliates — — — — (43,653) — Debt — — — — (12,486) — Operating lease liability (48,760) (209) (44,678) (8,744) — (10,028) Deferred tax liability, net (15,227) — — (34,061) — — Other liabilities (537) — (9,000) (362) — (65) Total net identifiable assets $ 137,086 $ 20,094 $ 310,281 $ 444,927 $ (47,483) $ 24,730 Proforma Information The table below presents the combined proforma revenue and net loss of the Company and Fazoli's, Twin Peaks, GFG, FCCG and Johnny Rockets (the "Material Acquired Entities"), for years ended December 26, 2021 and December 27, 2020, assuming the acquisition of the Material Acquired Entities had occurred on December 30, 2019 (the beginning of the Company’s 2020 fiscal year), pursuant to ASC 805-10-50 (in thousands). Actual consolidated results are presented in the proforma information for any period in which a Material Acquired Entity was actually a consolidated subsidiary of the Company. This proforma information does not purport to represent what the actual results of operations of the Company would have been had the acquisition of the Material Acquired Entities occurred on this date nor does it purport to predict the results of operations for future periods. Year Ended December 26, 2021 Year Ended December 27, 2020 Revenue $ 366,749 $ 314,845 Net loss $ (22,133) $ (75,915) The proforma information reflects the combination of the Company’s results as disclosed in the accompanying condensed consolidated statements of operations for the year ended December 26, 2021 and December 27, 2020, together with the unaudited results of each of the Acquired Entities for the same periods, with the following adjustments: For the acquisition of Fazoli's, Twin Peaks and GFG: ● Amortization of intangible assets has been adjusted to reflect the preliminary fair value at the assumed acquisition date. ● The proforma interest expense has been adjusted to exclude actual interest expense incurred prior to the acquisition. All interest-bearing liabilities were paid off at closing. ● The proforma interest expense has been adjusted to include proforma interest expense that would have been incurred relating to the acquisition financing obtained by the Company. ● Income tax effect is based on an assumed statutory income tax rate of 26%. For the merger with FCCG: ● FCCG historically made loan advances to Andrew A. Wiederhorn, its CEO and significant stockholder (the “Stockholder Loan”). Prior to the Merger, the Stockholder Loan was cancelled, and the balance recorded as a loss by FCCG on forgiveness of loan to stockholder. Had the Merger been completed as of the assumed proforma date of December 30, 2019 (the beginning of the Company’s 2020 fiscal year), the Stockholder Loan would have been cancelled prior to that date and there would have been no further advances made. As a result, the proforma information above eliminates the loss by FCCG on forgiveness of loan to stockholder and the related interest income recorded by FCCG in its historical financial statements. For the acquisition of Johnny Rockets: ● The unaudited proforma revenue and net (loss) income present franchise fee revenue and advertising revenue in accordance with ASC 606 in a manner consistent with the Company’s application thereof. As a non-public company, Johnny Rockets had not yet been required to adopt ASC 606. ● Overhead allocations from the former parent company have been adjusted to the estimated amount the Company would have allocated. ● Former parent company management fees have been eliminated from the proforma. ● Amortization of intangible assets has been adjusted to reflect the preliminary fair value at the assumed acquisition date. ● Depreciation on assets treated as held for sale by the Company has been eliminated. ● The proforma adjustments include advertising expenses in accordance with ASC 606. ● The proforma interest expense has been adjusted to exclude actual Johnny Rockets interest expense incurred prior to the acquisition. All interest-bearing liabilities were paid off at closing. ● The proforma interest expense has been adjusted to include proforma interest expense that would have been incurred relating to the acquisition financing obtained by the Company. ● Non-recurring gains and losses have been eliminated from the proforma statements.

Refranchising

Refranchising	12 Months Ended
	Dec. 26, 2021
Refranchising
Refranchising	REFRANCHISINGAs part of its ongoing franchising efforts, the Company may, from time to time, make opportunistic acquisitions of operating restaurants in order to convert them to franchise locations or acquire existing franchise locations to resell to another franchisee across all of its brands. The following assets used in the operation of certain restaurants meet all of the criteria requiring that they be classified as held for sale, and have been classified accordingly on the accompanying audited consolidated balance sheets as of December 26, 2021 and December 27, 2020 (in thousands): December 26, 2021 December 27, 2020 Property, plant and equipment $ 804 $ 1,352 Operating lease right of use assets 4,672 9,479 Total $ 5,476 $ 10,831 Operating lease liabilities related to the assets classified as held for sale in the amount of $4.8 million and $9.9 million, have been classified as current liabilities on the accompanying audited consolidated balance sheet as of December 26, 2021 and December 27, 2020, respectively. The following table highlights the operating results of the Company’s refranchising program during 2021 and 2020 (in thousands): Twelve Months Ended Twelve Months Ended Restaurant costs and expenses, net of revenue $ (3,008) $ (2,364) Gains (loss) on store sales or closures 2,694 (1,463) Refranchising loss $ (314) $ (3,827)

Notes Receivable

Notes Receivable	12 Months Ended
	Dec. 26, 2021
Receivables [Abstract]
Notes Receivable	NOTES RECEIVABLE Notes receivable consist of trade notes receivable, the Elevation Buyer Note and the Twin Peaks - Hollywood note. Trade notes receivable are created when a settlement is reached relating to a delinquent franchisee account and the entire balance is not immediately paid. Trade notes receivable generally include personal guarantees from the franchisee. The notes are made for the shortest time frame negotiable and will generally carry an interest rate of 6% to 7.5%. Reserve amounts, on the notes, are established based on the likelihood of collection. As of December 26, 2021, trade notes receivable totaled $0.5 million, which was net of reserves of $0.4 million. As of December 27, 2020, all trade notes receivable were fully reserved The Elevation Buyer Note was funded in connection with the purchase of Elevation Burger. The Company loaned $2,300,000 in cash to the Seller under a subordinated promissory note bearing interest at 6.0% per year and maturing in August, 2026. This Note is subordinated in right of payment to all indebtedness of the Seller arising under any agreement or instrument to which the Seller or any of its affiliates is a party that evidences indebtedness for borrowed money that is senior in right of payment to the Elevation Buyer Note, whether existing on the effective date of the Elevation Buyer Note or arising thereafter. The balance owing to the Company under the Elevation Buyer Note may be used by the Company to offset amounts owing to the Seller under the Elevation Note under certain circumstances. As part of the total consideration for the Elevation acquisition, the Elevation Buyer Note was recorded at a carrying value of $1.9 million, which was net of a discount of $0.4 million. As of December 26, 2021 and December 27, 2020, the balance of the Elevation Note was $1.7 million and $1.8 million, respectively, which were net of discounts of $0.2 million and $0.3 million, respectively. During the fiscal year ended December 26, 2021 and December 27, 2020, the Company recognized $0.2 million and $0.2 million in interest income on the Elevation Buyer Note, respectively. The Twin Peaks - Hollywood note was funded in connection with the development of a Twin Peaks restaurant. As of December 26, 2021, the amount of the secured note was $1.5 million.

Property and Equipment

Property and Equipment	12 Months Ended
	Dec. 26, 2021
Property, Plant and Equipment [Abstract]
Property and Equipment	PROPERTY AND EQUIPMENT Property and equipment consists primarily of real estate (including land, buildings and tenant improvements) and equipment. Changes in Carrying Value of Property and Equipment The changes in carrying value of property and equipment for the fiscal years ended December 26, 2021 and December 27, 2020 are as follows (in thousands): Real estate Equipment Total 2021 2020 2021 2020 2021 2020 Balance, beginning of year $ — $ — $ 483 $ 143 $ 483 $ 143 Acquisitions 57,794 — 19,490 — 77,284 — Additions 7,742 — 2,933 459 10,675 459 Dispositions (5,032) — (313) (39) (5,345) (39) Depreciation expense (1,640) — (956) (80) (2,596) (80) Balance, end of year $ 58,864 $ — $ 21,637 $ 483 $ 80,501 $ 483 Gross Carrying Value and Accumulated Depreciation of Property and equipment The carrying value of property and equipment is as follows as of December 26, 2021 and December 27, 2020 (in thousands): December 26, 2021 December 27, 2020 Gross Carrying Amount Accumulated Depreciation Net Carrying Amount Gross Carrying Amount Accumulated Depreciation Net Carrying Amount Real estate $ 60,504 $ (1,640) $ 58,864 $ — $ — $ — Equipment $ 22,899 $ (1,262) $ 21,637 $ 727 $ (244) $ 483 Balance, end of year $ 83,403 $ (2,902) $ 80,501 $ 727 $ (244) $ 483

Goodwill

Goodwill	12 Months Ended
	Dec. 26, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	GOODWILL The following table reflects the changes in carrying amounts of goodwill for the fiscal years ended December 26, 2021 and December 27, 2020 (in thousands): December 26, 2021 December 27, 2020 Gross Goodwill: Balance, beginning of year $ 12,373 $ 10,912 Acquired 285,940 1,461 Adjustment to preliminary purchase allocation (1,460) — Balance, end of year 296,853 12,373 Accumulated Impairment: Balance, beginning of year (1,464) — Impairment (261) (1,464) Balance, end of year (1,725) (1,464) Net carrying value $ 295,128 $ 10,909 When considering the available facts, assessments and judgments, the Company recorded goodwill impairment charges of $0.3 million relating to the Yalla brand for the twelve months ended December 26, 2021 and $1.5 million relating to the Ponderosa and Bonanza brands for the twelve months ended December 27, 2020. Because of the risks and uncertainties related to the COVID-19 pandemic events, the negative effects on the operations of the Company’s franchisees could prove to be worse than currently estimated and result in the need to record additional goodwill impairment charges in future periods.

Other Intangible Assets

Other Intangible Assets	12 Months Ended
	Dec. 26, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Other Intangible Assets	OTHER INTANGIBLE ASSETS Other intangible assets consist primarily of trademarks, franchise agreements and customer relationships that were classified as identifiable intangible assets at the time of the brands’ acquisition by the Company, or at the time they were acquired by FCCG prior to FCCG’s contribution of the brands to the Company in connection with the initial public offering. Franchise agreements and customer relationships are amortized over the useful life of the asset. Trademarks are considered to have an indefinite useful life and are not amortized. Changes in Carrying Value of Other Intangible Assets The changes in carrying value of other intangible assets for the fiscal years ended December 26, 2021 and December 27, 2020 are as follows (in thousands): Amortizing Non-Amortizing Total 2021 2020 2021 2020 2021 2020 Balance, beginning of year $ 12,643 $ 7,282 $ 35,068 $ 22,452 $ 47,711 $ 29,734 Impairment — (147) (776) (7,684) (776) (7,831) Amortization expense (5,970) (1,092) — — (5,970) (1,092) Acquired 168,923 6,600 442,900 20,300 611,823 26,900 Balance, end of year $ 175,596 $ 12,643 $ 477,192 $ 35,068 $ 652,788 $ 47,711 Gross Carrying Value and Accumulated Amortization of Other Intangible Assets The carrying value of amortizing other intangible assets is as follows as of December 26, 2021 and December 27, 2020 (in thousands): December 26, 2021 December 27, 2020 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Amortizing intangible assets Franchise agreements $ 109,357 $ (5,668) $ 103,689 $ 14,707 $ (2,064) $ 12,643 Customer relationships 73,900 (2,368) 71,532 — — — Other 375 — 375 — — — Balance, end of year $ 183,632 $ (8,036) $ 175,596 $ 14,707 $ (2,064) $ 12,643 The COVID related downturn in operations prompted the Company to review its intangible assets regularly throughout the year. These analyses resulted in the recognition of impairment of trademarks in the amount of $0.8 million for the fiscal year ended December 26, 2021. The Company recognized impairment of trademarks in the amount of $7.7 million and impairment of franchise agreements in the amount of $0.1 million for the fiscal year ended December 27, 2020. The expected future amortization of the Company’s capitalized franchise agreements is as follows (in thousands): Fiscal year: 2022 $ 14,530 2023 14,530 2024 14,225 2025 14,031 2026 14,031 Thereafter 104,249 Total $ 175,596

Deferred Income

Deferred Income	12 Months Ended
	Dec. 26, 2021
Contract with Customer, Liability [Abstract]
Deferred Income	DEFERRED INCOME Deferred income is as follows (in thousands): December 26, 2021 December 27, 2020 Deferred franchise fees $ 19,778 $ 5,417 Deferred royalties 165 422 Deferred vendor incentives 356 303 Total $ 20,298 $ 6,142

Income Taxes

Income Taxes	12 Months Ended
	Dec. 26, 2021
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES Effective October 20, 2017, the Company entered into a Tax Sharing Agreement with FCCG that provides that FCCG would file consolidated income tax returns with the Company and its subsidiaries. Under the Tax Sharing Agreement, the Company would pay FCCG the amount that its current tax liability would have been had it filed a separate return. An inter-company receivable due from FCCG and its affiliates was applied first to reduce excess income tax payment obligations to FCCG under the Tax Sharing Agreement. The Tax Sharing Agreement was terminated at the time of the Merger with FCCG during the fourth quarter of 2020. Deferred taxes reflect the net effect of temporary differences between the carrying amount of assets and liabilities for financial reporting purposes and the amounts used for calculating taxes payable. Significant components of the Company’s deferred tax assets and liabilities are as follows (in thousands): December 26, 2021 December 27, 2020 Deferred tax assets (liabilities) Net federal and state operating loss carryforwards $ 43,806 $ 24,463 Deferred revenue 4,085 2,681 Intangibles (86,200) (5,820) Deferred state income tax 638 (240) Reserves and accruals 7,270 2,185 Interest expense carryforward 22,388 4,858 Tax credits 144 466 Share-based compensation 857 228 Interest expense — 1,631 Fixed assets (2,893) 504 Operating lease right of use assets (23,866) (1,271) Operating lease liabilities 26,098 1,269 Valuation allowance (5,212) (513) Other (36) 110 Total $ (12,921) $ 30,551 The increase in the total net deferred tax liability during 2021 was primarily the result of the acquisitions of GFG and Fazoli's, which resulted in an initial increase of deferred tax liabilities of $34.1 million and $15.2 million, respectively. These deferred tax liabilities arose primarily due to the tax effect of other intangible assets. Deferred tax assets are reduced by a valuation allowance if, based on the weight of available evidence, it is more likely than not (a likelihood of more than fifty percent) that some portion or all of the deferred tax assets will not be realized. As of December 26, 2021 and December 27, 2020, the Company recorded a valuation allowance against its deferred tax assets in the amount of $5.2 million and $0.5 million, respectively, as it determined that these amounts would not likely be realized. The Company had federal net operating loss carryforwards (“NOLs”) of approximately $159.3 million and $98.1 million as of December 26, 2021 and December 27, 2020, respectively. The Company’s State NOLs were approximately $134.1 million and $58.7 million as of December 26, 2021 and December 27, 2020, respectively. The NOLs begin to expire in 2022. The Company also had certain federal tax credits totaling approximately $0.1 million and $0.5 million as of December 26, 2021 and December 27, 2020 respectively. The credits will begin to expire in 2028. Under Section 382 and 383 of the Internal Revenue Code, if an ownership change occurs with respect to a “loss corporation”, as defined, there are annual limitations on the amount of the NOLs and certain other deductions and credits which are available to the Company. The portion of the NOLs and other tax benefits accumulated by Johnny Rockets, GFG and Fazoli's prior to the Acquisition are subject to this annual limitation. Components of the income tax (benefit) expense are as follows (in thousands): Fiscal Year Ended Fiscal Year Current Federal $ — $ (118) State 952 40 Foreign 815 466 1767 388 Deferred Federal (5,068) (3,199) State (236) (878) (5,304) (4,077) Total income tax (benefit) expense $ (3,537) $ (3,689) Income tax provision related to continuing operations differ from the amounts computed by applying the statutory income tax rate to pretax income as follows (in thousands): Fiscal Year Ended Fiscal Year Ended Tax benefit at statutory rate (7,382) (3,895) State and local income taxes 566 (661) Valuation allowances 1,520 — Foreign taxes 550 466 Return to tax provision adjustment 466 — Tax credits — (222) Dividends on preferred stock 466 138 Goodwill impairment — 417 Other 277 68 Total income tax (benefit) expense (3,537) (3,689) As of December 26, 2021, the Company’s subsidiaries’ annual tax filings for the prior three years are open for audit by Federal and for the prior four years for state tax agencies. The Company is the beneficiary of indemnification agreements from the prior owners of the subsidiaries for tax liabilities related to periods prior to its ownership of the subsidiaries. Management evaluated the Company’s overall tax positions and has determined that no provision for uncertain income tax positions is necessary as of December 26, 2021.

Leases

Leases	12 Months Ended
	Dec. 26, 2021
Leases [Abstract]
Leases	LEASESAs of December 26, 2021, the Company has recorded 135 operating leases for corporate offices and for certain owned restaurant properties, some of which are in the process of being refranchised. The leases have remaining terms ranging from 1 month to 23.8 years. The Company recognized lease expense of $6.3 million and $2.0 million for the fiscal years ended December 26, 2021 and December 27, 2020, respectively. The weighted average remaining lease term of the operating leases as of December 26, 2021 was 15.4 years. Operating lease right of use assets and operating lease liabilities are as follows (in thousands): December 26, December 27, Operating lease right of use assets $ 98,552 $ 4,469 Right of use assets classified as held for sale 4,672 9,479 Total right of use assets $ 103,224 $ 13,948 Operating lease liabilities $ 107,261 $ 4,759 Lease liabilities related to assets held for sale 4,780 9,892 Total operating Lease liabilities $ 112,041 $ 14,651 The operating lease right of use assets and operating lease liabilities include obligations relating to the optional term extensions available on certain restaurant leases based on management’s intention to exercise the options. The weighted average discount rate used to calculate the carrying value of the right of use assets and lease liabilities was 9.4% which is based on the Company’s incremental borrowing rate at the time the lease is acquired. The contractual future maturities of the Company’s operating lease liabilities as of December 26, 2021, including anticipated lease extensions, are as follows (in thousands): Fiscal year: 2022 $ 16,773 2023 15,758 2024 14,692 2025 14,263 2026 13,228 Thereafter 164,382 Total lease payments 239,096 Less imputed interest 127,055 Total $ 112,041 Supplemental cash flow information for the fiscal years ended December 26, 2021 and December 27, 2020 related to leases is as follows (in thousands): 2021 2020 Cash paid for amounts included in the measurement of operating lease liabilities: Operating cash flows from operating leases $ 5,665 $ 1,202 Operating lease right of use assets obtained in exchange for new lease obligations: Operating lease liabilities $ 105,613 $ 14,500

Debt

Debt	12 Months Ended
	Dec. 26, 2021
Debt Disclosure [Abstract]
Debt	DEBT 2021 FB Royalty Securitization On April 26, 2021, FAT Brands Royalty I, LLC (“FB Royalty”), a special purpose, wholly-owned subsidiary of FAT Brands, completed the Offering of three tranches of fixed rate senior secured notes (collectively, the “2021 FB Royalty Securitization Notes”) as follows: Closing Class Seniority Principal Coupon Weighted Non-Call Anticipated Final Legal 4/26/2021 A-2 Senior $ 97,104,000 4.75 % 2.25 6 7/25/2023 4/25/2051 4/26/2021 B-2 Senior Subordinated $ 32,368,000 8.00 % 2.25 6 7/25/2023 4/25/2051 4/26/2021 M-2 Subordinated $ 15,000,000 9.00 % 2.25 6 7/25/2023 4/25/2051 Net proceeds from the issuance of the 2021 FB Royalty Securitization Notes totaled $140.8 million, which consisted of the combined face amount of $144.5 million, net of debt offering costs of 3.0 million and original issue discount of $0.7 million. As of December 26, 2021, the carrying value of the 2021 FB Royalty Securitization Notes was $141.3 million (net of debt offering costs of $2.6 million and original issue discount of $0.6 million). The Company recognized interest expense on the 2021 FB Royalty Securitization Notes of $6.2 million for the year ended December 26, 2021, respectively, which includes $0.4 million for amortization of debt offering costs, and $0.1 million for amortization of the original issue discount. The average annualized effective interest rate of the 2021 FB Royalty Securitization Notes, including the amortization of debt offering costs and original issue discount, was 6.60% for the time the debt was outstanding during the year ended December 26, 2021. The 2021 FB Royalty Securitization Notes require that the principal (if any) and interest obligations be segregated monthly to ensure appropriate funds are reserved to pay the quarterly principal and interest amounts due. The amount of monthly cash flow that exceeds the required monthly interest reserve is generally remitted to the Company. Interest payments are required to be made on a quarterly basis and, unless repaid on or before July 25, 2023 additional interest equal to 1.0% per annum will accrue on the then outstanding principal of each tranche. The material terms of the 2021 FB Royalty Securitization Notes also include, among other things, the following financial covenants: (i) debt service coverage ratio, (ii) leverage ratio and (iii) senior leverage ratio. As of December 26, 2021, the Company was in compliance with these covenants. The 2021 FB Royalty Securitization Notes are generally secured by a security interest in substantially all the assets of FB Royalty and its subsidiaries. A portion of the proceeds of the 2021 FB Royalty Securitization Notes were used to repay and retire the following notes issued in 2020 under the Base Indenture (the "2020 Securitization Notes"): Note Public Seniority Issue Amount Coupon First Call Date Final Legal Maturity Series A-2 BB Senior $ 20,000,000 6.50 % 4/27/2021 4/27/2026 Series B-2 B Senior Subordinated $ 20,000,000 9.00 % 4/27/2021 4/27/2026 Series M-2 N/A Subordinated $ 40,000,000 9.75 % 4/27/2021 4/27/2026 The payoff amount totaled $83.7 million, which included principal of $80.0 million, accrued interest of $2.2 million and prepayment premiums of $1.5 million. FB Royalty recognized a loss on extinguishment of debt of $7.8 million in connection with the refinance. The Company recognized interest expense on the 2020 Securitization Notes in the amount of $2.6 million and $4.2 million for the year ended December 26, 2021 and December 27, 2020, respectively. 2021 GFG Royalty Securitization In connection with the acquisition of GFG, on July 22, 2021, FAT Brands GFG Royalty I, LLC (“GFG Royalty”), a special purpose, wholly-owned subsidiary of the Company, completed the issuance and sale in a private offering (the “GFG Offering”) of three tranches of fixed rate senior secured notes (the "GFG Securitization Notes"). The GFG Securitization Notes were issued in a securitization transaction and had the following terms: Closing Class Seniority Principal Coupon Weighted Non-Call Anticipated Final Legal 7/22/2021 A-2 Senior $ 209,000,000 6.00 % 2.01 6 7/25/2023 7/25/2051 7/22/2021 B-2 Senior Subordinated $ 84,000,000 7.00 % 2.01 6 7/25/2023 7/25/2051 7/22/2021 M-2 Subordinated $ 57,000,000 9.50 % 2.01 6 7/25/2023 7/25/2051 Net proceeds from the issuance of the GFG Securitization Notes totaled $338.9 million, which consisted of the combined face amount of $350.0 million, net of debt offering costs of $6.0 million and original issue discount of $5.1 million. Substantially all of the proceeds were used to acquire GFG. As of December 26, 2021, the carrying value of the GFG Securitization Notes was $339.9 million (net of debt offering costs of $5.5 million and original issue discount of $4.6 million). The Company recognized interest expense on the GFG Securitization Notes of $11.1 million for fiscal year ended December 26, 2021, which includes $0.5 million for amortization of debt offering costs and $0.5 million for amortization of the original issue discount. The average annualized effective interest rate of the GFG Securitization Notes, including the amortization of debt offering costs and original issue discount, was 7.6% for the time the debt was outstanding during the fiscal year ended December 26, 2021. The GFG Securitization Notes require that the principal (if any) and interest obligations be segregated to ensure appropriate funds are reserved to pay the quarterly principal and interest amounts due. The amount of monthly cash flow that exceeds the required monthly interest reserve is generally remitted to the Company. Interest payments are required to be made on a quarterly basis and, unless repaid on or before July 25, 2023 additional interest equal to 1.0% per annum will accrue on the then outstanding principal balance of each tranche. The material terms of the GFG Securitization Notes also include, among other things, the following financial covenants: (i) debt service coverage ratio, (ii) leverage ratio and (iii) senior leverage ratio. As of December 26, 2021, the Company was in compliance with these covenants. Immediately following the closing of the acquisition of GFG, the Company contributed the franchising subsidiaries of GFG to GFG Royalty, pursuant to a Contribution Agreement. The GFG Securitization Notes are generally secured by a security interest in substantially all the assets of GFG Royalty and its subsidiaries. 2021 Twin Peaks Securitization In connection with the acquisition of Twin Peaks, on October 1, 2021, the Company completed the issuance and sale in a private offering through its special purpose, wholly-owned subsidiary, FAT Brands Twin Peaks I, LLC, of an aggregate principal amount of $250.0 million of Series 2021-1 Fixed Rate Secured Notes (the "Twin Peaks Securitization Notes"). The net proceeds from the sale of the Notes were used by the Company to finance the cash portion of the purchase price for the acquisition of Twin Peaks Buyer, LLC and its direct and indirect subsidiaries. The Twin Peaks Securitization Notes were issued in a securitization transaction and had the following terms: Closing Class Seniority Principal Coupon Weighted Non-Call Anticipated Final Legal 10/1/2021 A-2 Senior $ 150,000,000 7.00 % 1.81 6 7/25/2023 7/25/2051 10/1/2021 B-2 Senior Subordinated $ 50,000,000 9.00 % 1.81 6 7/25/2023 7/25/2051 10/1/2021 M-2 Subordinated $ 50,000,000 10.00 % 1.81 6 7/25/2023 7/25/2051 Net proceeds from the issuance of the Twin Peaks Securitization Notes totaled $236.9 million, which consisted of the combined face amount of $250.0 million, net of debt offering costs of $5.6 million and original issue discount of $7.5 million. Substantially all of the proceeds were used to acquire Twin Peaks. As of December 26, 2021, the carrying value of the Twin Peaks Securitization Notes was $237.6 million (net of debt offering costs of $5.3 million and original issue discount of $7.1 million). The Company recognized interest expense on the Twin Peaks Securitization Notes of $5.5 million for year ended December 26, 2021, which includes $0.1 million for amortization of debt offering costs and $0.3 million for amortization of the original issue discount. The average annualized effective interest rate of the Twin Peaks Securitization Notes, including the amortization of debt offering costs and original issue discount, was 9.8% for the time the debt was outstanding during the year ended December 26, 2021. The GFG Securitization Notes require that the principal (if any) and interest obligations be segregated to ensure appropriate funds are reserved to pay the quarterly principal and interest amounts due. The amount of monthly cash flow that exceeds the required monthly interest reserve is generally remitted to the Company. Interest payments are required to be made on a quarterly basis and, unless repaid on or before July 25, 2023 additional interest equal to 1.0% per annum will accrue on the then outstanding principal balance of each tranche. The material terms of the GFG Securitization Notes also include, among other things, the following financial covenants: (i) debt service coverage ratio, (ii) leverage ratio and (iii) senior leverage ratio. As of December 26, 2021, the Company was in compliance with these covenants. Immediately following the closing of the acquisition of Twin Peaks, the Company contributed the franchising subsidiaries of Twin Peaks to FAT Brands Twin Peaks I, LLC,, pursuant to a Contribution Agreement. The Twin Peaks Securitization Notes are generally secured by a security interest in substantially all the assets of FAT Brands Twin Peaks I, LLC, and its subsidiaries. 2021 Fazoli's / Native Securitization In connection with the acquisition of Fazoli's and Native Grill & Wings, on December 15, 2021, the Company completed the issuance and sale in a private offering through its special purpose, wholly-owned subsidiary, FAT Brands Fazoli's Native I, LLC, of an aggregate principal amount of $193.8 million of Series 2021-1 Fixed Rate Secured Notes (the "Fazoli's-Native Securitization Notes"). The Fazoli's-Native Securitization Notes were issued in a securitization transaction and had the following terms: Closing Class Seniority Principal Coupon Weighted Non-Call Anticipated Final Legal 12/15/2021 A-2 Senior $ 128,760,000 6.00 % 1.61 6 7/25/2023 7/25/2051 12/15/2021 B-2 Senior Subordinated $ 25,000,000 7.00 % 1.61 6 7/25/2023 7/25/2051 12/15/2021 M-2 Subordinated $ 40,000,000 9.00 % 1.61 6 7/25/2023 7/25/2051 Net proceeds from the issuance of the Fazoli's-Native Securitization Notes totaled $180.6 million, which consisted of the combined face amount of $193.8 million, net of debt offering costs of $3.8 million and original issue discount of $9.4 million. The proceeds were used to close the acquisitions of Fazoli's and Native, and to provide working capital for the Company. As of December 26, 2021, the carrying value of the Fazoli's-Native Securitization Notes was $180.6 million (net of debt offering costs of $3.7 million and original issue discount of $9.4 million). The Company recognized interest expense on the Fazoli's-Native Securitization Notes of $0.5 million for the fiscal year ended December 26, 2021, which includes $25,000 for amortization of debt offering costs and $0.1 million for amortization of the original issue discount. The average annualized effective interest rate of the Fazoli's-Native Securitization Notes, including the amortization of debt offering costs and original issue discount, was 9.0% for the time the debt was outstanding during the year ended December 26, 2021. The Fazoli's-Native Securitization Notes require that the principal (if any) and interest obligations be segregated to ensure appropriate funds are reserved to pay the quarterly principal and interest amounts due. The amount of monthly cash flow that exceeds the required monthly interest reserve is generally remitted to the Company. Interest payments are required to be made on a quarterly basis and, unless repaid on or before July 25, 2023 additional interest equal to 1.0% per annum will accrue on the then outstanding principal balance of each tranche. The material terms of the Fazoli's-Native Securitization Notes also include, among other things, the following financial covenants: (i) debt service coverage ratio, (ii) leverage ratio and (iii) senior leverage ratio. As of December 26, 2021, the Company was in compliance with these covenants. Immediately following the closing of the acquisition of Fazoli's and Native, the Company contributed the franchising subsidiaries of these entities to FAT Brands Fazoli's Native I, LLC, pursuant to a Contribution Agreement. The Fazoli's-Native Securitization Notes are generally secured by a security interest in substantially all the assets of FAT Brands Fazoli's Native I, LLC and its subsidiaries. Elevation Note On June 19, 2019, the Company completed the acquisition of Elevation Burger. A portion of the purchase price included the issuance to the Seller of a convertible subordinated promissory note (the “Elevation Note”) with a principal amount of $7.5 million, bearing interest at 6.0% per year and maturing in July 31, 2026. The Elevation Note is convertible under certain circumstances into shares of the Company’s common stock at $12.00 per share. In connection with the valuation of the acquisition of Elevation Burger, the Elevation Note was recorded on the financial statements of the Company at $6.1 million, net of a loan discount of $1.3 million and debt offering costs of $0.1 million. As of December 26, 2021, the carrying value of the Elevation Note was $5.6 million which is net of the loan discount of $0.6 million and debt offering costs of 45,519. The Company recognized interest expense relating to the Elevation Note during the fiscal year ended December 26, 2021 in the amount of $0.7 million, which included amortization of the loan discount of $0.3 million and amortization of $10,000 in debt offering costs. The Company recognized interest expense relating to the Elevation Note during the year ended December 27, 2020 in the amount of $0.7 million, which included amortization of the loan discount of 0.3 million and amortization of 10,000 in debt offering costs. The effective interest rate for the Elevation Note during the year ended December 26, 2021 was 11.4%. The Elevation Note is a general unsecured obligation of Company and is subordinated in right of payment to all indebtedness of the Company arising under any agreement or instrument to which Company or any of its Affiliates is a party that evidences indebtedness for borrowed money that is senior in right of payment. Paycheck Protection Program Loans During 2020, the Company received loan proceeds in the amount of approximately $1.5 million under the Paycheck Protection Program Loans (the "PPP Loans") and Economic Injury Disaster Loan Program (the “EIDL Loans”). The Paycheck Protection Program, established as part of the Coronavirus Aid, Relief and Economic Security Act (“CARES Act”), provides for loans to qualifying businesses for amounts up to 2.5 times of the average monthly payroll expenses of the qualifying business. The loans and accrued interest are forgivable after eight weeks as long as the borrower uses the loan proceeds for eligible purposes, including payroll, benefits, rent and utilities, and maintains its payroll levels. The amount of loan forgiveness will be reduced if the borrower terminates employees or reduces salaries during the eight-week period. At inception, the PPP Loans and EIDL Loans related to FAT Brands Inc. and five restaurant locations that were part of the Company’s refranchising program. As of December 27, 2020, the balance remaining on the PPP Loans and EIDL Loans had been reduced to $1.2 million due to the closure or refranchising of the five restaurant locations during the second and third quarters of 2020. During 2021, the Company received confirmation that the entire balance remaining on the PPP Loans, plus accrued interest, had been forgiven under the terms of the program. The Company recognized interest expense of $4,000 and a gain on extinguishment of debt in the amount of $1.2 million relating to the PPP Loans and EIDL Loans during the fiscal year ended December 26, 2021. Assumed Debt from Merger In connection with the Merger, certain debts of FCCG totaling $12.5 million (the “FCCG Debt”) were assumed by Fog Cutter Acquisition LLC, a wholly-owned subsidiary of the Company. During June 2021, the FCCG Debt was paid in full in the amount of $12.5 million, including accrued interest. The Company recognized interest expense relating to the FCCG Debt of $0.2 million during the year ended December 26, 2021. Scheduled Principal Maturities Scheduled principal maturities of long-term debt and redemptions of redeemable preferred stock (Note 14) for the next five fiscal years are as follows (in thousands): Fiscal Year Long-term Debt Redeemable Preferred Stock (Note 14) 2022 $ 631 $ 135,000 2023 $ 10,228 $ — 2024 $ 19,722 $ — 2025 $ 19,848 $ — 2026 $ 20,776 $ —

Preferred Stock

Preferred Stock	12 Months Ended
	Dec. 26, 2021
Equity [Abstract]
Preferred Stock	PREFERRED STOCK Series B Cumulative Preferred Stock On July 13, 2020, the Company entered into an underwriting agreement (the “Underwriting Agreement”) to issue and sell, in a public offering (the “Offering”), 360,000 shares of 8.25% Series B Cumulative Preferred Stock (“Series B Preferred Stock”) and 1,800,000 warrants, plus 99,000 additional warrants pursuant to the underwriter’s overallotment option (the “2020 Series B Offering Warrants”), to purchase common stock at $5.00 per share. In connection with the Offering, on July 15, 2020 the Company filed an Amended and Restated Certificate of Designation of Rights and Preferences of Series B Cumulative Preferred Stock with the Secretary of State of Delaware, designating the terms of the Series B Preferred Stock (the “Certificate of Designation”). The Certificate of Designation amends and restates the terms of the Series B Cumulative Preferred Stock issued in October 2019 (the “Original Series B Preferred”). At the time of the Offering, there were 57,140 shares of the Original Series B Preferred outstanding, together with warrants to purchase 34,284 shares of the Company’s common stock at an exercise price of $8.50 per share (the “Series B Warrants”). The Offering closed on July 16, 2020 with net proceeds to the Company of $8.1 million, which was net of $0.9 million in underwriting and offering costs. Holders of Series B Cumulative Preferred Stock do not have voting rights and are entitled to receive, when declared by the Board, cumulative preferential cash dividends at a rate per annum equal to the 8.25% multiplied by $25.00 per share stated liquidation preference of the Series B Preferred Stock. The dividends shall accrue without interest and accumulate, whether or not earned or declared, on each issued and outstanding share of the Series B Preferred Stock from (and including) the original date of issuance of such share and shall be payable monthly in arrears on a date selected by the Company each calendar month that is no later than twenty days following the end of each calendar month. If the Company fails to pay dividends on the Series B Preferred Stock in full for any twelve accumulated, accrued and unpaid dividend periods, the dividend rate shall increase to 10.0% until the Company has paid all accumulated accrued and unpaid dividends on the Series B Preferred Stock in full and has paid accrued dividends during the two most recently completed dividend periods in full, at which time the 8.25% dividend rate shall be reinstated. The Company may redeem the Series B Preferred Stock, in whole or in part, at the option of the Company, for cash, at the following redemption price per share, plus any unpaid dividends: (i) After July 16, 2020 and on or prior to July 16, 2021: $27.50 per share. (ii) After July 16, 2021 and on or prior to July 16, 2022: $27.00 per share. (iii) After July 16, 2022 and on or prior to July 16, 2023: $26.50 per share. (iv) After July 16, 2023 and on or prior to July 16, 2024: $26.00 per share. (v) After July 16, 2024 and on or prior to July 16, 2025: $25.00 per share. (vi) After July 16, 2025: $25.50 per share. As a result of the amended and restated terms of the Series B Cumulative Preferred Stock, the Company classified the Series B Preferred Stock as equity as of July 15, 2020. In addition to the shares issued in the Offering, The Company concurrently engaged in the following transactions: • The holders of the outstanding 57,140 shares of Original Series B Preferred became subject to the new terms of the Certificate of Designation. At the time of the amendment and restatement of the Certificate of Designation, the adjusted basis of the Original Series B Preferred on the Company’s books was $1.1 million, net of unamortized debt discounts and debt offering costs. As a result of the amendment and restatement of the Certificate of Designation, the recorded value of the new Series B Stock was $1.1 million with $0.3 million allocated to the 2020 Series B Offering Warrants, resulting in an aggregate loss on the exchange of $0.3 million. The original holders were also issued 3,537 shares of new Series B Preferred Shares in payment of $0.1 million accrued and outstanding dividends relating to the Original Series B Preferred at a price of $25 per share. • The Company entered into an agreement to exchange 15,000 shares of Series A Fixed Rate Cumulative Preferred Stock owned by FCCG for 60,000 shares of Series B Preferred Stock valued at $1.5 million, pursuant to a Settlement, Redemption and Release Agreement. At the time of the exchange, the adjusted basis of the Series A Preferred on the Company’s books was $1.5 million, net of unamortized debt discounts and debt offering costs, and the Company recognized a loss on the exchange in the amount of $11,000. The Company also agreed to issue 14,449 shares of Series B Preferred Stock valued at $0.4 million as consideration for accrued dividends due to FCCG. • The Company entered into an agreement to exchange all of the outstanding shares of Series A-1 Fixed Rate Cumulative Preferred Stock for 168,001 shares of Series B Preferred Stock valued at $4.2 million, pursuant to a Settlement, Redemption and Release Agreement with the holders of such shares. At the time of the exchange, the adjusted basis of the Series A-1 Preferred Stock on the Company’s books was $4.4 million, net of unamortized debt discounts and debt offering costs, and the Company recognized a gain on the exchange in the amount of $0.2 million. Prior to the exchange, the Company recognized interest expense on the Series A-1 Preferred Stock in the amount of $0.1 million for the year ended December 27, 2020. In connection with the acquisition of FCCG by the Company in December 2020, the Company declared a special stock dividend (the “Special Dividend”) payable only to holders of the Company's Common Stock, excluding FCCG, on the record date, consisting of 0.2319998077 shares of Series B Cumulative Preferred Stock for each outstanding share of Common Stock held by such stockholders. The value of fractional shares of Series B Preferred Stock was paid in cash dividends totaling approximately $29,000. The Special Dividend was completed on December 23, 2020 and resulted in the issuance of 520,145 additional shares of Series B Preferred Stock with a market value on the payment date of approximately $8.9 million. On June 22, 2021, the Company closed a second underwritten public offering of 460,000 shares of 8.25% Series B Cumulative Preferred Stock at a price of $20.00 per share. The net proceeds to the Company totaled $8.3 million (net of $0.9 million in underwriting discounts and other offering expenses). On August 25, 2021, the Company redeemed the final 80,000 shares of outstanding Series A Preferred Stock held by Trojan Investments, LLC, with a redemption value of $8.0 million, plus accrued dividends thereon in the amount of $1.6 million, in exchange for 478,199 shares of Series B Preferred Stock valued at $10.8 million. The Company recognized a loss on extinguishment of debt in the amount of $1.2 million resulting from the redemption of the Series A Preferred Stock. The loss on extinguishment of debt was recognized during the fourth quarter of 2021 and was deemed by the Company to be immaterial to the third quarter 2021 financial statements. Following this transaction, the Company no longer has outstanding shares of its Series A Preferred Stock and has cancelled all shares. As of December 27, 2020, there were 80,000 shares of Series A Preferred Stock outstanding, with a balance of $8.0 million. The Company had accounted for the Series A Preferred Stock as debt and recognized interest expense on the Series A Preferred Stock of $0.7 million and $1.4 million for the fiscal years ended December 26, 2021 and December 27, 2020, respectively. On November 1, 2021, the Company closed an additional underwritten public offering of 1,000,000 shares of 8.25% Series B Cumulative Preferred Stock at a price of $18.00 per share. The net proceeds to the Company totaled $16.8 million (net of $1.2 million in underwriting discounts and other offering expenses). As of December 26, 2021, the Series B Preferred Stock consisted of 3,221,471 shares outstanding with a balance of $55.7 million. The Company declared preferred dividends to the holders of the Series B Preferred Stock totaling $4.1 million during the fiscal year ended December 26, 2021. As of December 27, 2020, the Series B Preferred Stock consisted of 1,183,272 shares outstanding with a balance of $21.8 million. The Company declared preferred dividends to the holders of the Series B Preferred Stock totaling $0.5 million during the fiscal year ended December 27, 2020. These amounts do not include 5,936,638 shares of Series B Preferred Stock classified as redeemable preferred stock due to associated put options granted to the holders by the Company. (See Note 14) Derivative Liability Relating to the Conversion Feature of the Series A Preferred Stock The former holders of the Company's Series A Preferred Stock had the option to cause the Company to redeem all or any portion of their shares of Series A Preferred Stock beginning any time after the two-year anniversary of the initial issuance date for an amount equal to $100.00 per share plus any accrued and unpaid dividends. The redemption could be settled in cash or common stock of the Company, at the option of the holder (the “Conversion Option”). If a holder elected to receive common stock, the shares would be issued based on the 20-day volume weighted average price of the common stock immediately preceding the date of the holder’s redemption notice. On June 8, 2020, the Conversion Option became exercisable. As of that date, the Company calculated the estimated fair value of the Conversion Option to be $2.4 million and recorded a derivative liability in that amount, together with an offsetting reduction in Additional Paid-In Capital. On July 13, 2020, the Company entered into agreements with each of the holders of the Series A Preferred Stock regarding the redemption of their shares. Holders of 85,000 of the outstanding shares agreed to a full redemption in periodic cash payments. FCCG, the holder of the remaining 15,000 outstanding shares, agreed to redeem its Series A Preferred Stock in exchange for newly issued Series B Preferred Stock of the Company. As a result of these agreements, the Conversion Option was terminated for all holders as of July 13, 2020. Immediately prior to the termination, the fair value of the Conversion Option was determined to be $1.5 million and resulted in the recognition of $0.9 million in income from the decrease in the value of the derivative liability. With the termination of the Conversion Option, the $1.5 million remaining balance in derivative liability was written off with an offsetting credit to Additional Paid-in Capital.

Redeemable Preferred Stock

Redeemable Preferred Stock	12 Months Ended
	Dec. 26, 2021
Temporary Equity Disclosure [Abstract]
Redeemable Preferred Stock	REDEEMABLE PREFERRED STOCK GFG Preferred Stock Consideration On July 22, 2021, the Company completed the acquisition of GFG (Note 3). A portion of the consideration paid included 3,089,245 newly issued shares of the Company’s Series B Preferred Stock valued at $67.3 million (the "GFG Preferred Stock Consideration"). Additionally, on July 22, 2021, the Company entered into a put/call agreement with the GFG sellers, pursuant to which the Company may purchase, or the GFG Sellers may require the Company to purchase, the GFG Preferred Stock Consideration for $67.5 million plus any accrued but unpaid dividends on or before April 22, 2022. As a result of the effect of the put/call agreement, which may require the Company to pay the counterparty in cash, the GFG Preferred Stock Consideration has been classified as redeemable preferred stock on the Company's condensed consolidated balance sheet. Subsequent to fiscal year end 2021, on March 22, 2022, the Company received a put notice on the GFG Preferred Stock Consideration. As of December 26, 2021, the carrying value of the redeemable preferred stock was $64.5 million. The Company declared dividends in the amount of $2.8 million relating to the GFG Preferred Stock Consideration during the year ended December 26, 2021, Twin Peaks Preferred Stock Consideration On October 01, 2021, the Company completed the acquisition of Twin Peaks. A portion of the consideration paid included 2,847,393 shares of the Company’s Series B Cumulative Preferred Stock (the "Twin Peaks Preferred Stock Consideration") valued at $67.5 million. The Seller agreed to a lock-up period with respect to the Preferred Stock Consideration, during which time the Seller may not offer, sell or transfer any interest in these shares. The lock-up provisions restrict sales until March 31, 2022 for 1,793,858 shares (the “Initial Put/Call Shares”) and September 30, 2022 for the remaining 1,053,535 shares (the “Secondary Put/Call Shares”), subject to certain exceptions set forth in the Put/Call Agreement (as defined below). On October 01, 2021, the Company and the Seller entered into a Put/Call Agreement (the “Put/Call Agreement”) pursuant to which the Company was granted the right to call from the Seller, and the Seller was granted the right to put to the Company, the Initial Put/Call Shares at any time until March 31, 2022 for a cash payment of $42.5 million, and the Secondary Put/Call Shares at any time until September 30, 2022 for a cash payment of $25.0 million, plus any accrued but unpaid dividends on such shares. If the Company does not deliver the applicable cash proceeds to the Seller when due, the amounts then due will accrue interest at the rate of 10.0% per annum until repayment is completed. On October 7, 2021, the Company received a put notice on the Initial Put/Call Shares and the Secondary Put/Call Shares. The Company has classified the Twin Peaks Preferred Stock Consideration as a current liability.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 26, 2021
Related Party Transactions [Abstract]
Related Party Transactions	RELATED PARTY TRANSACTIONS Subsequent to the Merger with FCCG on December 24, 2020 (Note 3), there have been no reportable related party transactions with non-consolidated related entities. Prior to the Merger, the Company reported the following related party transactions: Due from Affiliates On April 24, 2020, the Company entered into an Intercompany Revolving Credit Agreement with FCCG (“Intercompany Agreement”). The Company had previously extended credit to FCCG pursuant to a certain Intercompany Promissory Note (the “Original Note”), dated October 20, 2017, with an initial principal balance of $11.9 million. Subsequent to the issuance of the Original Note, the Company and certain of its direct or indirect subsidiaries made additional intercompany advances. Pursuant to the Intercompany Agreement, the revolving credit facility was subject to an interest at a rate of 10.0% per annum, had a five-year term with no prepayment penalties, and had a maximum capacity of $35.0 million. All additional borrowings under the Intercompany Agreement were subject to the approval of the Board of Directors, in advance, on a quarterly basis and were subject to other conditions as set forth by the Company. The initial balance under the Intercompany Agreement totaled $21.1 million including the balance of the Original Note, borrowings subsequent to the Original Note, accrued and unpaid interest income, and other adjustments through December 29, 2019. Effective with the Merger with FCCG, the Intercompany Agreement was terminated and intercompany balances were eliminated in consolidation. Effective July 5, 2018, the Company made a preferred capital investment in Homestyle Dining LLC, a Delaware limited liability corporation (“HSD”) in the amount of $4.0 million (the “Preferred Interest”). FCCG owns all of the common interests in HSD. The holder of the Preferred Interest was entitled to a 15.0% priority return on the outstanding balance of the investment (the “Preferred Return”). Any available cash flows from HSD on a quarterly basis were to be distributed to pay the accrued Preferred Return and repay the Preferred Interest until fully retired. On or before the five-year anniversary of the investment, the Preferred Interest were to be fully repaid, together with all previously accrued but unpaid Preferred Return. FCCG unconditionally guaranteed repayment of the Preferred Interest in the event HSD failed to do so. Effective with the Merger with FCCG, the Preferred Interest was terminated and intercompany balances were eliminated in consolidation. During the year ended December 27, 2020, the Company recorded a receivable from FCCG in the amount of $0.2 million under the Tax Sharing Agreement, which was added to the intercompany receivable. The Tax Sharing Agreement was terminated at the time of the Merger. (See Note 9).

Shareholders' Equity

Shareholders' Equity	12 Months Ended
	Dec. 26, 2021
Equity [Abstract]
Stockholders' Equity	STOCKHOLDERS’ EQUITY On August 16, 2021, the Company filed its Second Amended and Restated Certificate of Incorporation (the “Amended Certificate”) with the Secretary of State of the State of Delaware, which among other things, (i) authorized 50,000,000 shares of Class A Common Stock and 1,600,000 shares of Class B Common Stock, and (ii) reclassified the Company’s outstanding shares of Common Stock as Class A Common Stock as of such date (the "Recapitalization"). Prior to the Recapitalization, the Company’s authorized common shares totaled 25,000,000 in a single class. The terms of the Amended Certificate require equal or better treatment for the Class A Common Stock to the Class B Common Stock in transactions such as distributions, mergers, dissolution or recapitalization. Generally, each holder of shares of Class A Common Stock shall be entitled to 1 vote for each share of Class A Common Stock held as of the applicable date on any matter that is submitted to a vote or for the consent of the stockholders of the Corporation, while each holder of shares of Class B Common Stock shall be entitled to 2,000 votes for each share of Class B Common Stock held as of the applicable date on any matter that is submitted to a vote or for the consent of the stockholders of the Corporation. The foregoing is qualified in its entirety by reference to the full text of the Amended Certificate, which is filed as Exhibit 3.1 on the Current Report on Form 8-K, filed with the Securities and Exchange Commission on August 19, 2021 and incorporated by reference herein. On October 15, 2021, the Board of Directors of the Company approved an amendment and restatement (the “Amendment”) of the Company’s Bylaws, effective as of the same date. The Amendment revised the stockholder voting provisions of the Bylaws to reflect the dual class common stock structure adopted by the Company in August 2021. In addition, the Amendment revised the provisions in the Bylaws for stockholder voting by written consent and the procedure for fixing the size of the Board of Directors and made certain other conforming changes. As of December 26, 2021 and December 27, 2020, the total number of authorized shares of common stock was 51,600,000 and 25,000,000, respectively. There were 15,109,747 shares of Class A common stock and 1,270,805 shares of Class B common stock outstanding at December 26, 2021 and 11,926,264 shares of Class A common stock issued and outstanding at December 27, 2020 Below are the changes to the Company’s common stock during the fiscal year ended December 26, 2021: ● Upon the effective date of the Recapitalization, each share of Common Stock outstanding as of June 29, 2021 was reclassified as Class A Common Stock, and on August 23, 2021, the Company distributed a dividend of 0.10 shares of Class B Common Stock for each outstanding share to holders of Class A Common Stock. This resulted in the issuance of 1,270,805 shares of Class B Common Stock. ● Warrants to purchase 559,988 shares of common stock were exercised during the year ended December 26, 2021. The proceeds to the Company from the exercise of the warrants totaled $2.6 million. ● Between April 6, 2021 and May 18, 2021, the Company granted 300,000 restricted shares of common stock to certain senior executives of the Company. The shares vest over three years in equal installments at the anniversary date of grant. The value of the restricted stock grant was $2.8 million and will be amortized as compensation expense over the vesting period. ● On June 21, 2021, the Company entered into an agreement to issue 62,500 shares of common stock with a market value of 0.8 million in partial payment of the acquisition purchase price payable relating to the acquisition of Yalla Mediterranean. ● On April 20, 2021, the Board of Directors declared a cash dividend of $0.13 per share of common stock, payable on May 7, 2021 to stockholders of record as of May 3, 2021, for a total of $1.6 million. ● On June 1, 2021, the Board of Directors declared a cash dividend of $0.13 per share of common stock, payable on June 21, 2021 to stockholders of record as of June 14, 2021, for a total of $1.6 million. ● On July 22, 2021, the Company completed the acquisition of GFG and issued 1,964,865 shares of the Company’s Common Stock with a value of $22.5 million. ● On August 24, 2021, the Board of Directors declared a cash dividend of $0.13 per share of common stock, payable on September 15, 2021 to stockholders of record as of September 6, 2021, for a total of $2.1 million. ● On November 2, 2021, the Board of Directors declared a cash dividend of $0.13 per share of common stock, payable on December 1, 2021 to stockholders of record as of November 17, 2021, for a total of $2.1 million. ● On November 11, 2021, one non-employee member of the board of directors elected to receive a portion of their compensation in shares of the Company’s common stock in lieu of cash. As such, the Company issued a total of 1,401 shares of common stock with a value of $15,000 to the electing director as consideration for accrued director's fees.

Share-Based Compensation

Share-Based Compensation	12 Months Ended
	Dec. 26, 2021
Equity [Abstract]
Share-Based Compensation	SHARE-BASED COMPENSATIONEffective September 30, 2017, the Company adopted the 2017 Omnibus Equity Incentive Plan (the “Plan”). The Plan was amended and restated on October 19, 2021. The Plan is a comprehensive incentive compensation plan under which the Company can grant equity-based and other incentive awards to officers, employees and directors of, and consultants and advisers to, FAT Brands Inc. and its subsidiaries. The Plan provides a maximum of 4,000,000 shares available for grant. All of the stock options issued by the Company to date have included a vesting period of three years, with one-third of each grant vesting annually. The Company’s stock option activity for fiscal year ended December 26, 2021 can be summarized as follows: Number of Shares Weighted Weighted Average Remaining Contractual Stock options outstanding at December 27, 2020 656,105 $ 7.46 6.4 Grants 2,135,680 $ 11.43 9.9 Forfeited — $ — 0.0 Expired — $ — 0.0 Stock options outstanding at December 26, 2021 2,791,785 $ 10.50 9.1 Stock options exercisable at December 26, 2021 579,515 $ 7.75 6.1 The range of assumptions used in the Black-Scholes valuation model to value to options granted in 2021 are as follows: Expected dividend yield 4.6% - 5.5% Expected volatility 88.8 % Risk-free interest rate 1.3% - 1.4% Expected term (in years) 6.0 During the year ended December 26, 2021 the Company granted a total of 300,000 restricted shares of its common stock to three employees (the “Grant Shares”). The Grant Shares vest one-third each year on the anniversary date of the grant. The grantees are entitled to any common dividends relating to the Grant Shares during the vesting period. The Grant Shares were valued at $2.8 million as of the date of grant. The related compensation expense will be recognized over the vesting period. The Company recognized share-based compensation expense in the amount of $1.6 million and $0.1 million during the fiscal years ended December 26, 2021 and December 27, 2020, respectively. As of December 26, 2021, there remains $13.9 million of share-based compensation expense relating to non-vested grants, which will be recognized over the remaining vesting period, subject to future forfeitures.

Warrants

Warrants	12 Months Ended
	Dec. 26, 2021
Other Liabilities Disclosure [Abstract]
Warrants	WARRANTS As of December 26, 2021, the Company had issued outstanding warrants to purchase shares of its Class A common stock as follows: Issue Date Number of Warrants Outstanding Commencement Date Termination Date Exercise Price Value at Grant Date (in thousands) 10/20/2017 81,700 04/20/2018 10/20/2022 $ 13.35 $ 124 06/07/2018 102,125 06/07/2018 06/07/2023 $ 7.12 $ 87 06/27/2018 25,530 06/27/2018 06/27/2023 $ 7.12 $ 25 07/03/2018 57,439 07/03/2018 07/03/2023 $ 7.12 $ 58 07/03/2018 22,230 07/03/2018 07/03/2023 $ 6.54 $ 26 06/19/2019 46,875 12/24/2020 06/19/2024 $ 7.27 N/A (1) 10/03/2019 60 10/03/2019 10/03/2024 $ 7.73 $ — 07/16/2020 1,352,721 12/24/2020 07/16/2025 $ 3.76 $ 1,163 07/16/2020 18,990 12/24/2020 07/16/2025 $ 3.76 $ 64 1,707,670 (1) Values were not calculated at the issue date because the warrants were only exercisable in the event of a merger involving the Company and FCCG. In addition to the warrants to purchase common stock described above, the Company has also granted warrants issued on July 16, 2020, to purchase 3,600 shares of the Company’s Series B Preferred Stock at an exercise price of $24.95 per share, exercisable beginning on the earlier of one year from the date of issuance, or the consummation of a merger or other similar business combination transaction involving the Company and FCCG, and will expire on July 16, 2025. The Series B Offering Warrants were valued at $2,000 at the date of grant. The Company’s activity in warrants to purchase Class A common stock for the fiscal year ended December 26, 2021 was as follows: Number of Weighted Weighted Warrants outstanding at December 27, 2020 2,273,533 $ 5.68 4.3 Grants 8,184 $ 3.76 3.6 Exercised (571,198) $ 3.85 3.5 Cancelled (2,849) $ 3.76 3.6 Warrants outstanding at December 26, 2021 1,707,670 $ 4.72 3.2 Warrants exercisable at December 26, 2021 1,707,670 $ 4.72 3.2 (1) Exercise price adjusted due to cash dividends and Class B stock dividend. The Company’s warrant activity for the fiscal year ended December 27, 2020 was as follows: Number of Weighted Weighted Warrants outstanding at December 29, 2019 2,091,652 $ 3.57 3.4 Grants 2,203,190 $ 4.96 4.5 Forfeited (2,021,309) $ 2.71 3.6 Warrants outstanding at December 27, 2020 2,273,533 $ 5.68 4.3 Warrants exercisable at December 27, 2020 2,273,533 $ 5.68 4.3 During the fiscal year ended December 26, 2021, a total of 571,198 warrants were exercised in exchange for 559,988 shares of common stock with net proceeds to the Company of $2.6 million. The range of assumptions used to establish the initial value of the warrants using the Black-Scholes valuation model were as follows: Warrants Expected dividend yield 4.00% - 6.63% Expected volatility 30.23% - 31.73% Risk-free interest rate 0.99% - 1.91% Expected term (in years) 3.8 - 5.0

Dividends on Common Stock

Dividends on Common Stock	12 Months Ended
	Dec. 26, 2021
Equity [Abstract]
Dividends on Common Stock	NOTE 19. DIVIDENDS ON COMMON STOCK The dividends declared on the Company's common stock during the fiscal year ended December 26, 2021 are as follows: Declaration Date Dividend Per Share Record Date Payment Date Total Dividend April 20, 2021 $ 0.13 May 03, 2021 May 07, 2021 $ 1,607,000 June 1, 2021 $ 0.13 June 14, 2021 June 21, 2021 $ 1,590,000 August 24, 2021 $ 0.13 September 6, 2021 September 15, 2021 $ 2,116,000 November 2, 2021 $ 0.13 November 17, 2021 December 1, 2021 $ 2,129,000 In connection with the acquisition of FCCG by the Company, in December 2020, the Company declared a special stock dividend (the “Special Dividend”) payable only to holders of our Common Stock on the record date, other than FCCG, consisting of 0.2319998077 shares of the Company’s Series B Preferred Stock for each outstanding share of Common Stock held by such stockholders. The value of fractional shares of Series B Preferred Stock was paid in cash and totaled approximately $29,000. The Special Dividend was paid on December 23, 2020 and resulted in the issuance of 520,145 additional shares of Series B Preferred Stock with a market value on the payment date of approximately $8.9 million.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 26, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES Litigation James Harris and Adam Vignola, derivatively on behalf of FAT Brands, Inc. v. Squire Junger, James Neuhauser, Edward Rensi, Andrew Wiederhorn, Fog Cutter Holdings, LLC and Fog Cutter Capital Group, Inc., and FAT Brands Inc., nominal defendant (Delaware Chancery Court, Case No. 2021-0511) On June 10, 2021, plaintiffs James Harris and Adam Vignola (“Plaintiffs”), putative stockholders of the Company, filed a shareholder derivative action in the Delaware Court of Chancery nominally on behalf of the Company against the Company’s directors (Squire Junger, James Neuhauser, Edward Rensi and Andrew Wiederhorn (the “Individual Defendants”)), and the Company’s majority stockholders, Fog Cutter Holdings, LLC and Fog Cutter Capital Group, Inc. (collectively with the Individual Defendants, “Defendants”). Plaintiffs assert claims of breach of fiduciary duty, unjust enrichment and waste of corporate assets arising out of the Company’s December 2020 merger with Fog Cutter Capital Group, Inc. On August 5, 2021, Defendants filed a motion to dismiss Plaintiffs’ complaint (the “Motion”). Argument on the Motion was heard on February 11, 2022. At the conclusion of the argument, the Court indicated that it would deny the Motion with respect to most claims and most Defendants, but would reserve final decision until after more fully considering the arguments as to the unjust enrichment claim and one of the Individual Defendants. Defendants dispute the allegations of the lawsuit and intend to vigorously defend against the claims. As this matter is still in the early stages and discovery is just underway, we cannot predict the outcome of this lawsuit. This lawsuit does not assert any claims against the Company. However, subject to certain limitations, we are obligated to indemnify our directors in connection with the lawsuit and any related litigation or settlements amounts, which may be time-consuming, result in significant expense and divert the attention and resources of our management. An unfavorable outcome may exceed coverage provided under our insurance policies, could have an adverse effect on our financial condition and results of operations and could harm our reputation. James Harris and Adam Vignola, derivatively on behalf of FAT Brands, Inc. v. Squire Junger, James Neuhauser, Edward Rensi, Andrew Wiederhorn and Fog Cutter Holdings, LLC, and FAT Brands Inc., nominal defendant (Delaware Chancery Court, Case No. 2022-0254) On March 17, 2022, plaintiffs James Harris and Adam Vignola (“Plaintiffs”), putative stockholders of the Company, filed a shareholder derivative action in the Delaware Court of Chancery nominally on behalf of the Company against the Company’s directors (Squire Junger, James Neuhauser, Edward Rensi and Andrew Wiederhorn (the “Individual Defendants”)), and the Company’s majority stockholder, Fog Cutter Holdings, LLC (collectively with the Individual Defendants, “Defendants”). Plaintiffs assert claims of breach of fiduciary duty in connection with the Company’s June 2021 recapitalization transaction. As this matter is still in the early stages, we cannot predict the outcome of this lawsuit. This lawsuit does not assert any claims against the Company. However, subject to certain limitations, we are obligated to indemnify our directors in connection with the lawsuit and any related litigation or settlements amounts, which may be time-consuming, result in significant expense and divert the attention and resources of our management. An unfavorable outcome may exceed coverage provided under our insurance policies, could have an adverse effect on our financial condition and results of operations and could harm our reputation. Robert J. Matthews, et al., v. FAT Brands, Inc., Andrew Wiederhorn, Ron Roe, Rebecca Hershinger and Ken Kuick (United States District Court for the Central District of California, Case No. 2:22-cv-01820) On March 18, 2022, plaintiff Robert J. Matthews, a putative investor in the Company, filed a putative class action lawsuit against the Company, Andrew Wiederhorn, Ron Roe, Rebecca Hershinger and Ken Kuick, asserting claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, as amended (the “1934 Act”), alleging that the defendants are responsible for false and misleading statements and omitted material facts in the Company’s reports filed with the SEC under the 1934 Act related to the LA Times story published on February 19, 2022 about the company and its management. The plaintiff alleges that the Company’s public statements wrongfully inflated the trading price of the Company’s common stock, preferred stock and warrants. The plaintiff is seeking to certify the complaint as a class action and is seeking compensatory damages in an amount to be determined at trial. As this matter is still in the early stages, we cannot predict the outcome of this lawsuit. Government Investigations The U.S. Attorney’s Office for the Central District of California (the “U.S. Attorney”) and the U.S. Securities and Exchange Commission informed the Company in December 2021 that they have opened investigations relating to the Company and our Chief Executive Officer, Andrew Wiederhorn, and are formally seeking documents and materials concerning, among other things, the Company’s December 2020 merger with Fog Cutter Capital Group Inc., transactions between these entities and Mr. Wiederhorn, and compensation, extensions of credit and other benefits or payments received by Mr. Wiederhorn or his family. The Company is cooperating with the government regarding these matters, and we believe that the Company is not currently a target of the U.S. Attorney’s investigation. At this early stage, the Company is not able to reasonably estimate the outcome or duration of the government investigations. Stratford Holding LLC v. Foot Locker Retail Inc. (U.S. District Court for the Western District of Oklahoma, Case No. 5:12-cv-772-HE) In 2012 and 2013, two property owners in Oklahoma City, Oklahoma sued numerous parties, including Foot Locker Retail Inc. and our subsidiary Fog Cutter Capital Group Inc. (now known as Fog Cutter Acquisition, LLC), for alleged environmental contamination on their properties, stemming from dry cleaning operations on one of the properties. The property owners seek damages in the range of $12.0 million to $22.0 million. From 2002 to 2008, a former Fog Cutter subsidiary managed a lease portfolio, which included the subject property. Fog Cutter denies any liability, although it did not timely respond to one of the property owners’ complaints and several of the defendants’ cross-complaints and thus is in default. The parties are currently conducting discovery, and the matter is scheduled for trial for October 2022. The Company is unable to predict the ultimate outcome of this matter, however, reserves have been recorded on the balance sheet relating to this litigation. There can be no assurance that the defendants will be successful in defending against these actions. SBN FCCG LLC v FCCGI (Los Angeles Superior Court, Case No. BS172606) SBN FCCG LLC (“SBN”) filed a complaint against Fog Cutter Capital Group, Inc. (“FCCG”) in New York state court for an indemnification claim (the “NY case”) stemming from an earlier lawsuit in Georgia regarding a certain lease portfolio formerly managed by a former FCCG subsidiary. In February 2018, SBN obtained a final judgment in the NY case for a total of $0.7 million, which included $0.2 million in interest dating back to March 2012. SBN then obtained a sister state judgment in Los Angeles Superior Court, Case No. BS172606 (the “California case”), which included the $0.7 million judgment from the NY case, plus additional statutory interest and fees, for a total judgment of $0.7 million. In May 2018, SBN filed a cost memo, requesting an additional $12,411 in interest to be added to the judgment in the California case, for a total of $0.7 million. In May 2019, the parties agreed to settle the matter for $0.6 million, which required the immediate payment of $0.1 million, and the balance to be paid in August 2019. FCCG wired $0.1 million to SBN in May 2019, but has not yet paid the remaining balance of $0.5 million. The parties have not entered into a formal settlement agreement, and they have not yet discussed the terms for the payment of the remaining balance. The Company is involved in other claims and legal proceedings from time-to-time that arise in the ordinary course of business, including those involving the Company’s franchisees. The Company does not believe that the ultimate resolution of these actions will have a material adverse effect on its business, financial condition, results of operations, liquidity or capital resources. As of December 26, 2021, the Company had accrued an aggregate of $5.12 million for the specific matters mentioned above and claims and legal proceedings involving franchisees as of that date. Operating Leases (see also Note 11) The Company's headquarters, including its principal administrative, sales and marketing, customer support, and research and development operations, are located in Beverly Hills, California, comprising approximately 13,000 square feet of space, pursuant to a lease that expires on September 29, 2025, as well as an additional approximately 3,000 square feet of space pursuant to a lease amendment that expires on February 29, 2024. Our subsidiary, GFG Management, LLC, leases offices in Atlanta, GA comprising approximately 9,000 square feet under a lease expiring on March 1, 2023, and an approximately 16,000 square foot warehouse location under a lease expiring on May 31, 2024. Our subsidiary, GAC Supply, LLC, owns and operates an approximately 40,000 square foot manufacturing and production facility in Atlanta, Georgia, which supplies our franchisees with cookie dough, pretzel dry mix and other ancillary products. Our subsidiary, Twin Restaurant Holding, LLC, leases offices in Dallas, TX comprising approximately 8,300 square feet under a lease expiring on April 30, 2025. Our subsidiary, Fazoli's Holdings, LLC leases offices located in Lexington, KY comprising approximately 19,200 square feet under a lease expiring on April 30, 2022. Our subsidiary, Native Grill & Wings Franchising, LLC leases offices located in Chandler, AZ comprising 5,825 square feet under a lease expiring on October 31, 2024. In addition to the above locations, certain of our subsidiaries directly own and operate restaurant locations, substantially all of which are located in leased premises. As of December 26, 2021, we owned and operated 126 restaurant locations. In addition to the above locations, certain of the Company's subsidiaries directly own and operate restaurant locations, substantially all of which are located in leased premises. As of December 26, 2021, the Company leased and operated approximately 120 restaurant locations. The Company believes that its existing facilities are in good operating condition and adequate to meet current and foreseeable needs. Additional information related to the Company’s operating leases are disclosed in Note 10.

Geographic Information and Majo

Geographic Information and Major Franchisees	12 Months Ended
	Dec. 26, 2021
Geographic Information And Major Franchisees
Geographic Information and Major Franchisees	GEOGRAPHIC INFORMATION AND MAJOR FRANCHISEES Revenues by geographic area are as follows (in thousands): Fiscal Year Ended Fiscal Year Ended United States $ 108,643 $ 14,146 Other countries 10,238 3,972 Total revenues $ 118,881 $ 18,118 Revenues are shown based on the geographic location of our licensee restaurants. All of our owned restaurant assets are located in the United States.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 26, 2021
Subsequent Events [Abstract]
Subsequent Events	SUBSEQUENT EVENTSPursuant to FASB ASC 855, Management has evaluated all events and transactions that occurred from December 26, 2021 through the date of issuance of these audited consolidated financial statements. During this period, the Company did not have any significant subsequent events.

Schedule II - Valuation and Qua

Schedule II - Valuation and Qualifying Accounts	12 Months Ended
	Dec. 26, 2021
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]
Schedule II - Valuation and Qualifying Accounts	SCHEDULE II – VALUATION AND QUALIFYING ACCOUNTS FOR THE FISCAL YEAR ENDED DECEMBER 26, 2021 Dollars in thousands Balance at Charged to Deductions/ Recoveries/Acquisitions Balance at Allowance for: Trade notes and accounts receivable $ 1,113 $ 1,843 $ 1,460 $ 4,416

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 26, 2021
Accounting Policies [Abstract]
Nature of operations	Nature of operations – The Company operates on a 52-week calendar and its fiscal year ends on the last Sunday of the calendar year. Consistent with the industry practice, the Company measures its stores’ performance based upon 7-day work weeks. Using the 52-week cycle ensures consistent weekly reporting for operations and ensures that each week has the same days, since certain days are more profitable than others. The use of this fiscal year means a 53 rd week is added to the fiscal year every 5 or 6 years. In a 52-week year, all four quarters are comprised of 13 weeks. In a 53-week year, one extra week is added to the fourth quarter. Both fiscal 2021 and 2020 were 52-week years. Our revenues are derived from two sales channels, franchised restaurants and company owned locations, which we operate as one reportable segment.
Principles of consolidation	Principles of consolidation – The accompanying consolidated financial statements include the accounts of the Company and its subsidiaries. Newly acquired subsidiaries are included from the date of acquisition. Intercompany accounts have been eliminated in consolidation.
Use of estimates in the preparation of the consolidated financial statements	Use of estimates in the preparation of the consolidated financial statements – The preparation of the consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates include the determination of fair values of goodwill and other intangible assets, the allocation of basis between assets acquired, sold or retained, allowances for uncollectible notes receivable and accounts receivable, and the valuation allowance related to deferred tax assets. Estimates and assumptions also affect the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Financial statement reclassification	Financial statement reclassification – Certain account balances from prior periods have been reclassified in these consolidated financial statements to conform to current period classifications.
Credit and Depository Risks	Credit and Depository Risks – Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash and accounts receivable. Management evaluates each of its franchisee’s financial condition prior to entry into a franchise or other agreement, as well as periodically through the term of the agreement, and believes that it has adequately provided for any exposure to potential credit losses. As of December 26, 2021 and December 27, 2020, accounts receivable, net of allowance for doubtful accounts, totaled $19.6 million and $4.2 million, with no franchisee representing more than 10% of that amount.
Restricted Cash	Restricted Cash – The Company has restricted cash consisting of funds required to be held in trust in connection with its securitized debt. The current portion of restricted cash was $24.7 million and $2.9 million as of December 26, 2021 and December 27, 2020, respectively. Non-current restricted cash of $18.5 million and $0.4 million as of December 26, 2021 and December 27, 2020, respectively, represents interest reserves required to be set aside for the duration of the securitized debt.
Accounts receivable	Accounts receivable – Accounts receivable are recorded at the invoiced amount and are stated net of an allowance for doubtful accounts. The allowance for doubtful accounts is the Company’s best estimate of the amount of probable credit losses in the existing accounts receivable. The allowance is based on historical collection data and current franchisee information. Account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. As of December 26, 2021 and December 27, 2020 accounts receivable was stated net of an allowance for doubtful accounts of $4.0 million and $0.7 million, respectively.
Trade notes receivable	Trade notes receivable – Trade notes receivable are created when an agreement is reached to settle a delinquent franchisee receivable account and the entire balance is not immediately paid. Generally, trade notes receivable include personal guarantees from the franchisee. The notes are made for the shortest time frame negotiable and generally carry an interest rate of 6% to 7.5%. Reserve amounts on the notes are established based on the likelihood of collection. As of December 26, 2021, there were net trade notes receivable recorded on the financial statements in the amount of $0.5 million.
Assets classified as held for sale	Assets classified as held for sale – Assets are classified as held for sale when the Company commits to a plan to sell the asset, the asset is available for immediate sale in its present condition and an active program to locate a buyer at a reasonable price has been initiated. The sale of these assets is generally expected to be completed within one year. The combined assets are valued at the lower of their carrying amount or fair value, net of costs to sell and included as current assets on the Company’s consolidated balance sheet. Assets classified as held for sale are not depreciated. However, interest attributable to the liabilities associated with assets classified as held for sale and other related expenses are recorded as expenses in the Company’s consolidated statement of operations.
Goodwill and other intangible assets	Goodwill and other intangible assets – Intangible assets are stated at the estimated fair value at the date of acquisition and include goodwill, trademarks, and franchise agreements. Goodwill and other intangible assets with indefinite lives, such as trademarks, are not amortized but are reviewed for impairment annually or more frequently if indicators arise. All other intangible assets are amortized over their estimated weighted average useful lives, which range from nine
Fair Value Measurements	Fair Value Measurements - The Company determines the fair market values of its financial assets and liabilities, as well as non-financial assets and liabilities that are recognized or disclosed at fair value on a recurring basis, based on the fair value hierarchy established in U.S. GAAP. As necessary, the Company measures its financial assets and liabilities using inputs from the following three levels of the fair value hierarchy: • Level 1 inputs are quoted prices in active markets for identical assets or liabilities. • Level 2 inputs are observable for the asset or liability, either directly or indirectly, including quoted prices in active markets for similar assets or liabilities. • Level 3 inputs are unobservable and reflect the Company’s own assumptions. Other than a derivative liability that existed during part of 2020 and the contingent consideration payable liabilities, the Company does not have a material amount of financial assets or liabilities that are required to be measured at fair value on a recurring basis under U.S. GAAP (See Note 12). None of the Company’s non-financial assets or non-financial liabilities are required to be measured at fair value on a recurring basis.
Income taxes	Income taxes – Effective October 20, 2017, the Company entered into a Tax Sharing Agreement with FCCG that provides that FCCG would, in summary, file consolidated income tax returns with the Company and its subsidiaries. The Company would pay FCCG the amount that its tax liability would have been had it filed a separate return. As such, prior to the Merger, the Company accounted for income taxes as if it filed separately from FCCG. The Tax Sharing Agreement was cancelled at the time of the Merger. The Company accounts for income taxes under the asset and liability method. Under this method, deferred tax assets and liabilities are determined based on the differences between financial reporting and tax reporting bases of assets and liabilities and are measured using enacted tax rates and laws that are expected to be in effect when the differences are expected to reverse. Realization of deferred tax assets is dependent upon future earnings, the timing and amount of which are uncertain. A valuation allowance is recognized when the realization of our deferred tax assets is expected to be less than our carrying amounts. A two-step approach is utilized to recognize and measure uncertain tax positions. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates that it is more likely than not that the position will be sustained upon tax authority examination, including resolution of related appeals or litigation processes, if any. The second step is to measure the tax benefit as the largest amount that is more than 50% likely of being realized upon the ultimate settlement.
Franchise fees	Franchise Fees: The franchise arrangement is documented in the form of a franchise agreement. The franchise arrangement requires the Company to perform various activities to support the brand that do not directly transfer goods and services to the franchisee, but instead represent a single performance obligation, which includes the transfer of the franchise license. The services provided by the Company are highly interrelated with the franchise license and are considered a single performance obligation. Franchise fee revenue from the sale of individual franchises is recognized over the term of the individual franchise agreement on a straight-line basis. Unamortized non-refundable deposits collected in relation to the sale of franchises are recorded as deferred franchise fees. The franchise fee may be adjusted from time to time at management’s discretion. Deposits are non-refundable upon acceptance of the franchise application. In the event a franchisee does not comply with their development timeline for opening franchise stores, the franchise rights may be terminated, at which point the franchise fee revenue is recognized for non-refundable deposits. Company Owned Restaurant Revenue - Company owned restaurant revenue is recognized at the point in time when food and beverage products are sold. We present company restaurant sales net of sales-related taxes collected from customers and remitted to governmental taxing authorities.
Royalties	Royalties – In addition to franchise fee revenue, the Company collects a royalty calculated as a percentage of net sales from our franchisees. Royalties range from 0.75% to 7.0% and are recognized as revenue when the related sales are made by the franchisees. Royalties collected in advance of sales are classified as deferred income until earned.
Company Restaurant Revenue	Franchise Fees: The franchise arrangement is documented in the form of a franchise agreement. The franchise arrangement requires the Company to perform various activities to support the brand that do not directly transfer goods and services to the franchisee, but instead represent a single performance obligation, which includes the transfer of the franchise license. The services provided by the Company are highly interrelated with the franchise license and are considered a single performance obligation. Franchise fee revenue from the sale of individual franchises is recognized over the term of the individual franchise agreement on a straight-line basis. Unamortized non-refundable deposits collected in relation to the sale of franchises are recorded as deferred franchise fees. The franchise fee may be adjusted from time to time at management’s discretion. Deposits are non-refundable upon acceptance of the franchise application. In the event a franchisee does not comply with their development timeline for opening franchise stores, the franchise rights may be terminated, at which point the franchise fee revenue is recognized for non-refundable deposits. Company Owned Restaurant Revenue - Company owned restaurant revenue is recognized at the point in time when food and beverage products are sold. We present company restaurant sales net of sales-related taxes collected from customers and remitted to governmental taxing authorities.
Advertising	Advertising – The Company requires advertising fee payments from franchisees based on a percent of net sales. The Company also receives, from time to time, payments from vendors that are to be used for advertising. Advertising funds collected are required to be spent for specific advertising purposes. Advertising revenue and the associated expense are recorded gross on the Company’s consolidated statement of operations. Assets and liabilities associated with the related advertising fees are reflected in the Company’s consolidated balance sheet.
Share-based compensation	Share-based compensation – The Company has a stock option plan which provides for options to purchase shares of the Company’s common stock. Options issued under the plan may have a variety of terms as determined by the Board of Directors including the option term, the exercise price and the vesting period. Options granted to employees and directors are valued at the date of grant and recognized as an expense over the vesting period in which the options are earned. Cancellations or forfeitures are accounted for as they occur. Stock options issued to non-employees as compensation for services are accounted for based upon the estimated fair value of the stock option. The Company recognizes this expense over the period in which the services are provided. Management utilizes the Black-Scholes option-pricing model to determine the fair value of the stock options issued by the Company. See Note 16 for more details on the Company’s share-based compensation.
Earnings per share	Earnings per share – The Company reports basic earnings or loss per share in accordance with FASB ASC 260, “ Earnings Per Share ”. Basic earnings per share is computed using the weighted average number of common shares outstanding during the reporting period. Diluted earnings per share is computed using the weighted average number of common shares outstanding plus the effect of dilutive securities during the reporting period. Any potentially dilutive securities that have an anti-dilutive impact on the per share calculation are excluded. During periods in which the Company reports a net loss, diluted weighted average shares outstanding are equal to basic weighted average shares outstanding because the effect of the inclusion of all potentially dilutive securities would be anti-dilutive. As of December 26, 2021, and December 27, 2020, there were no potentially dilutive securities considered in the calculation of diluted loss per common share due to net losses for each period.
Recently Issued Accounting Standards	Recently Issued Accounting Standards In June 2016, the FASB issued ASU 2016-13, Financial Instruments-Credit Losses (Topic 326)-Measurement of Credit Losses on Financial Instruments, and later amended the ASU in 2019, as described below. This guidance replaces the current incurred loss impairment methodology. Under the new guidance, on initial recognition and at each reporting period, an entity is required to recognize an allowance that reflects its current estimate of credit losses expected to be incurred over the life of the financial instrument based on historical experience, current conditions and reasonable and supportable forecasts. In November 2019, the FASB issued ASU No. 2019-10, Financial Instruments - Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842): Effective Dates (“ASU 2019-10”)

Mergers and Acquisitions (Table

Mergers and Acquisitions (Tables)	12 Months Ended
	Dec. 26, 2021
Business Combination and Asset Acquisition [Abstract]
Schedule of recognized identified assets acquired and liabilities assumed	The allocations relating to Fazoli's, Native Grill & Wings, Twin Peaks and GFG are preliminary and subject to change: Fazoli's Native Grill & Wings Twin Peaks GFG FCCG Johnny Rockets Cash $ 9,621 $ 200 $ 14,882 $ 8,737 $ — $ 812 Accounts receivable 3,295 311 1,604 7,268 — 1,452 Assets held for sale — — — — — 10,765 Prepaids and other current assets 1,817 97 2,822 3,818 33 — Notes receivable — — 1,500 — — — Other intangible assets, net 83,300 14,900 165,375 348,250 — 26,900 Goodwill 52,939 5,022 105,115 122,864 — — Right of use assets 43,062 209 43,748 6,514 — — Property, plant and equipment 21,996 61 46,847 8,380 — — Deferred tax asset, net — — 221 — 20,402 4,297 Other assets 304 — 543 1,181 100 438 Accounts payable (5,770) (5) (5,159) (2,427) (926) (1,113) Accrued expenses (7,430) (224) (6,418) (10,060) (6,973) (3,740) Accrued advertising — (89) (3,503) (3,207) — — Deferred income (1,522) (179) (3,618) (3,224) — (4,988) Litigation reserve — — — — (3,980) — Due to affiliates — — — — (43,653) — Debt — — — — (12,486) — Operating lease liability (48,760) (209) (44,678) (8,744) — (10,028) Deferred tax liability, net (15,227) — — (34,061) — — Other liabilities (537) — (9,000) (362) — (65) Total net identifiable assets $ 137,086 $ 20,094 $ 310,281 $ 444,927 $ (47,483) $ 24,730
Proforma revenue and net loss	The table below presents the combined proforma revenue and net loss of the Company and Fazoli's, Twin Peaks, GFG, FCCG and Johnny Rockets (the "Material Acquired Entities"), for years ended December 26, 2021 and December 27, 2020, assuming the acquisition of the Material Acquired Entities had occurred on December 30, 2019 (the beginning of the Company’s 2020 fiscal year), pursuant to ASC 805-10-50 (in thousands). Actual consolidated results are presented in the proforma information for any period in which a Material Acquired Entity was actually a consolidated subsidiary of the Company. This proforma information does not purport to represent what the actual results of operations of the Company would have been had the acquisition of the Material Acquired Entities occurred on this date nor does it purport to predict the results of operations for future periods. Year Ended December 26, 2021 Year Ended December 27, 2020 Revenue $ 366,749 $ 314,845 Net loss $ (22,133) $ (75,915)

Refranchising (Tables)

Refranchising (Tables)	12 Months Ended
	Dec. 26, 2021
Refranchising
Schedule of Assets Classified as Held for Sale	The following assets used in the operation of certain restaurants meet all of the criteria requiring that they be classified as held for sale, and have been classified accordingly on the accompanying audited consolidated balance sheets as of December 26, 2021 and December 27, 2020 (in thousands): December 26, 2021 December 27, 2020 Property, plant and equipment $ 804 $ 1,352 Operating lease right of use assets 4,672 9,479 Total $ 5,476 $ 10,831
Schedule of Gain on Refranchising Restaurant Costs and Expenses	The following table highlights the operating results of the Company’s refranchising program during 2021 and 2020 (in thousands): Twelve Months Ended Twelve Months Ended Restaurant costs and expenses, net of revenue $ (3,008) $ (2,364) Gains (loss) on store sales or closures 2,694 (1,463) Refranchising loss $ (314) $ (3,827)

Property and Equipment (Tables)

Property and Equipment (Tables)	12 Months Ended
	Dec. 26, 2021
Property, Plant and Equipment [Abstract]
Changes in Carrying Value of Property and Equipment	The changes in carrying value of property and equipment for the fiscal years ended December 26, 2021 and December 27, 2020 are as follows (in thousands): Real estate Equipment Total 2021 2020 2021 2020 2021 2020 Balance, beginning of year $ — $ — $ 483 $ 143 $ 483 $ 143 Acquisitions 57,794 — 19,490 — 77,284 — Additions 7,742 — 2,933 459 10,675 459 Dispositions (5,032) — (313) (39) (5,345) (39) Depreciation expense (1,640) — (956) (80) (2,596) (80) Balance, end of year $ 58,864 $ — $ 21,637 $ 483 $ 80,501 $ 483 The carrying value of property and equipment is as follows as of December 26, 2021 and December 27, 2020 (in thousands): December 26, 2021 December 27, 2020 Gross Carrying Amount Accumulated Depreciation Net Carrying Amount Gross Carrying Amount Accumulated Depreciation Net Carrying Amount Real estate $ 60,504 $ (1,640) $ 58,864 $ — $ — $ — Equipment $ 22,899 $ (1,262) $ 21,637 $ 727 $ (244) $ 483 Balance, end of year $ 83,403 $ (2,902) $ 80,501 $ 727 $ (244) $ 483
Carrying Value of Property and Equipment	The changes in carrying value of property and equipment for the fiscal years ended December 26, 2021 and December 27, 2020 are as follows (in thousands): Real estate Equipment Total 2021 2020 2021 2020 2021 2020 Balance, beginning of year $ — $ — $ 483 $ 143 $ 483 $ 143 Acquisitions 57,794 — 19,490 — 77,284 — Additions 7,742 — 2,933 459 10,675 459 Dispositions (5,032) — (313) (39) (5,345) (39) Depreciation expense (1,640) — (956) (80) (2,596) (80) Balance, end of year $ 58,864 $ — $ 21,637 $ 483 $ 80,501 $ 483 The carrying value of property and equipment is as follows as of December 26, 2021 and December 27, 2020 (in thousands): December 26, 2021 December 27, 2020 Gross Carrying Amount Accumulated Depreciation Net Carrying Amount Gross Carrying Amount Accumulated Depreciation Net Carrying Amount Real estate $ 60,504 $ (1,640) $ 58,864 $ — $ — $ — Equipment $ 22,899 $ (1,262) $ 21,637 $ 727 $ (244) $ 483 Balance, end of year $ 83,403 $ (2,902) $ 80,501 $ 727 $ (244) $ 483

Goodwill (Tables)

Goodwill (Tables)	12 Months Ended
	Dec. 26, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The following table reflects the changes in carrying amounts of goodwill for the fiscal years ended December 26, 2021 and December 27, 2020 (in thousands): December 26, 2021 December 27, 2020 Gross Goodwill: Balance, beginning of year $ 12,373 $ 10,912 Acquired 285,940 1,461 Adjustment to preliminary purchase allocation (1,460) — Balance, end of year 296,853 12,373 Accumulated Impairment: Balance, beginning of year (1,464) — Impairment (261) (1,464) Balance, end of year (1,725) (1,464) Net carrying value $ 295,128 $ 10,909

Other Intangible Assets (Tables

Other Intangible Assets (Tables)	12 Months Ended
	Dec. 26, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Changes in Carrying Value of Other Intangible Assets	The changes in carrying value of other intangible assets for the fiscal years ended December 26, 2021 and December 27, 2020 are as follows (in thousands): Amortizing Non-Amortizing Total 2021 2020 2021 2020 2021 2020 Balance, beginning of year $ 12,643 $ 7,282 $ 35,068 $ 22,452 $ 47,711 $ 29,734 Impairment — (147) (776) (7,684) (776) (7,831) Amortization expense (5,970) (1,092) — — (5,970) (1,092) Acquired 168,923 6,600 442,900 20,300 611,823 26,900 Balance, end of year $ 175,596 $ 12,643 $ 477,192 $ 35,068 $ 652,788 $ 47,711
Schedule of Changes in Carrying Value of Amortizing Intangible Assets	The carrying value of amortizing other intangible assets is as follows as of December 26, 2021 and December 27, 2020 (in thousands): December 26, 2021 December 27, 2020 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Amortizing intangible assets Franchise agreements $ 109,357 $ (5,668) $ 103,689 $ 14,707 $ (2,064) $ 12,643 Customer relationships 73,900 (2,368) 71,532 — — — Other 375 — 375 — — — Balance, end of year $ 183,632 $ (8,036) $ 175,596 $ 14,707 $ (2,064) $ 12,643
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	The expected future amortization of the Company’s capitalized franchise agreements is as follows (in thousands): Fiscal year: 2022 $ 14,530 2023 14,530 2024 14,225 2025 14,031 2026 14,031 Thereafter 104,249 Total $ 175,596

Deferred Income (Tables)

Deferred Income (Tables)	12 Months Ended
	Dec. 26, 2021
Contract with Customer, Liability [Abstract]
Schedule of Deferred Income	Deferred income is as follows (in thousands): December 26, 2021 December 27, 2020 Deferred franchise fees $ 19,778 $ 5,417 Deferred royalties 165 422 Deferred vendor incentives 356 303 Total $ 20,298 $ 6,142

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 26, 2021
Income Tax Disclosure [Abstract]
Significant Components of Deferred Tax Assets and Liabilities	Significant components of the Company’s deferred tax assets and liabilities are as follows (in thousands): December 26, 2021 December 27, 2020 Deferred tax assets (liabilities) Net federal and state operating loss carryforwards $ 43,806 $ 24,463 Deferred revenue 4,085 2,681 Intangibles (86,200) (5,820) Deferred state income tax 638 (240) Reserves and accruals 7,270 2,185 Interest expense carryforward 22,388 4,858 Tax credits 144 466 Share-based compensation 857 228 Interest expense — 1,631 Fixed assets (2,893) 504 Operating lease right of use assets (23,866) (1,271) Operating lease liabilities 26,098 1,269 Valuation allowance (5,212) (513) Other (36) 110 Total $ (12,921) $ 30,551
Schedule of Components of Income Tax (Benefit) Expense	Components of the income tax (benefit) expense are as follows (in thousands): Fiscal Year Ended Fiscal Year Current Federal $ — $ (118) State 952 40 Foreign 815 466 1767 388 Deferred Federal (5,068) (3,199) State (236) (878) (5,304) (4,077) Total income tax (benefit) expense $ (3,537) $ (3,689)
Schedule of Effective Income Tax Rate Reconciliation	Income tax provision related to continuing operations differ from the amounts computed by applying the statutory income tax rate to pretax income as follows (in thousands): Fiscal Year Ended Fiscal Year Ended Tax benefit at statutory rate (7,382) (3,895) State and local income taxes 566 (661) Valuation allowances 1,520 — Foreign taxes 550 466 Return to tax provision adjustment 466 — Tax credits — (222) Dividends on preferred stock 466 138 Goodwill impairment — 417 Other 277 68 Total income tax (benefit) expense (3,537) (3,689)

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 26, 2021
Leases [Abstract]
Summary of Operating Lease Right of Use Assets and Operating Lease Liabilities Relating to Operating Leases	Operating lease right of use assets and operating lease liabilities are as follows (in thousands): December 26, December 27, Operating lease right of use assets $ 98,552 $ 4,469 Right of use assets classified as held for sale 4,672 9,479 Total right of use assets $ 103,224 $ 13,948 Operating lease liabilities $ 107,261 $ 4,759 Lease liabilities related to assets held for sale 4,780 9,892 Total operating Lease liabilities $ 112,041 $ 14,651
Contractual Future Maturities of Operating Lease Liabilities	The contractual future maturities of the Company’s operating lease liabilities as of December 26, 2021, including anticipated lease extensions, are as follows (in thousands): Fiscal year: 2022 $ 16,773 2023 15,758 2024 14,692 2025 14,263 2026 13,228 Thereafter 164,382 Total lease payments 239,096 Less imputed interest 127,055 Total $ 112,041
Summary of Supplemental Cash Flow Information Related to Leases	Supplemental cash flow information for the fiscal years ended December 26, 2021 and December 27, 2020 related to leases is as follows (in thousands): 2021 2020 Cash paid for amounts included in the measurement of operating lease liabilities: Operating cash flows from operating leases $ 5,665 $ 1,202 Operating lease right of use assets obtained in exchange for new lease obligations: Operating lease liabilities $ 105,613 $ 14,500

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 26, 2021
Schedule of Maturities of Long-term Debt and Redemptions of Redeemable Preferred Stock	Scheduled principal maturities of long-term debt and redemptions of redeemable preferred stock (Note 14) for the next five fiscal years are as follows (in thousands): Fiscal Year Long-term Debt Redeemable Preferred Stock (Note 14) 2022 $ 631 $ 135,000 2023 $ 10,228 $ — 2024 $ 19,722 $ — 2025 $ 19,848 $ — 2026 $ 20,776 $ —
2021 Securitization Notes
Schedule of Securitization of Notes	On April 26, 2021, FAT Brands Royalty I, LLC (“FB Royalty”), a special purpose, wholly-owned subsidiary of FAT Brands, completed the Offering of three tranches of fixed rate senior secured notes (collectively, the “2021 FB Royalty Securitization Notes”) as follows: Closing Class Seniority Principal Coupon Weighted Non-Call Anticipated Final Legal 4/26/2021 A-2 Senior $ 97,104,000 4.75 % 2.25 6 7/25/2023 4/25/2051 4/26/2021 B-2 Senior Subordinated $ 32,368,000 8.00 % 2.25 6 7/25/2023 4/25/2051 4/26/2021 M-2 Subordinated $ 15,000,000 9.00 % 2.25 6 7/25/2023 4/25/2051
2020 Securitization Notes
Schedule of Securitization of Notes	A portion of the proceeds of the 2021 FB Royalty Securitization Notes were used to repay and retire the following notes issued in 2020 under the Base Indenture (the "2020 Securitization Notes"): Note Public Seniority Issue Amount Coupon First Call Date Final Legal Maturity Series A-2 BB Senior $ 20,000,000 6.50 % 4/27/2021 4/27/2026 Series B-2 B Senior Subordinated $ 20,000,000 9.00 % 4/27/2021 4/27/2026 Series M-2 N/A Subordinated $ 40,000,000 9.75 % 4/27/2021 4/27/2026
GFG Securitization Notes
Schedule of Securitization of Notes	The GFG Securitization Notes were issued in a securitization transaction and had the following terms: Closing Class Seniority Principal Coupon Weighted Non-Call Anticipated Final Legal 7/22/2021 A-2 Senior $ 209,000,000 6.00 % 2.01 6 7/25/2023 7/25/2051 7/22/2021 B-2 Senior Subordinated $ 84,000,000 7.00 % 2.01 6 7/25/2023 7/25/2051 7/22/2021 M-2 Subordinated $ 57,000,000 9.50 % 2.01 6 7/25/2023 7/25/2051
Twin Peaks Securitization Notes
Schedule of Securitization of Notes	The Twin Peaks Securitization Notes were issued in a securitization transaction and had the following terms: Closing Class Seniority Principal Coupon Weighted Non-Call Anticipated Final Legal 10/1/2021 A-2 Senior $ 150,000,000 7.00 % 1.81 6 7/25/2023 7/25/2051 10/1/2021 B-2 Senior Subordinated $ 50,000,000 9.00 % 1.81 6 7/25/2023 7/25/2051 10/1/2021 M-2 Subordinated $ 50,000,000 10.00 % 1.81 6 7/25/2023 7/25/2051
Fazoli's-Native Securitization Notes
Schedule of Securitization of Notes	The Fazoli's-Native Securitization Notes were issued in a securitization transaction and had the following terms: Closing Class Seniority Principal Coupon Weighted Non-Call Anticipated Final Legal 12/15/2021 A-2 Senior $ 128,760,000 6.00 % 1.61 6 7/25/2023 7/25/2051 12/15/2021 B-2 Senior Subordinated $ 25,000,000 7.00 % 1.61 6 7/25/2023 7/25/2051 12/15/2021 M-2 Subordinated $ 40,000,000 9.00 % 1.61 6 7/25/2023 7/25/2051

Share-Based Compensation (Table

Share-Based Compensation (Tables)	12 Months Ended
	Dec. 26, 2021
Equity [Abstract]
Schedule of Stock Option Activity	The Company’s stock option activity for fiscal year ended December 26, 2021 can be summarized as follows: Number of Shares Weighted Weighted Average Remaining Contractual Stock options outstanding at December 27, 2020 656,105 $ 7.46 6.4 Grants 2,135,680 $ 11.43 9.9 Forfeited — $ — 0.0 Expired — $ — 0.0 Stock options outstanding at December 26, 2021 2,791,785 $ 10.50 9.1 Stock options exercisable at December 26, 2021 579,515 $ 7.75 6.1
Schedule of Assumptions Used for Stock-based Compensation	The range of assumptions used in the Black-Scholes valuation model to value to options granted in 2021 are as follows: Expected dividend yield 4.6% - 5.5% Expected volatility 88.8 % Risk-free interest rate 1.3% - 1.4% Expected term (in years) 6.0

Warrants (Tables)

Warrants (Tables)	12 Months Ended
	Dec. 26, 2021
Other Liabilities Disclosure [Abstract]
Schedule of Outstanding Warrants	As of December 26, 2021, the Company had issued outstanding warrants to purchase shares of its Class A common stock as follows: Issue Date Number of Warrants Outstanding Commencement Date Termination Date Exercise Price Value at Grant Date (in thousands) 10/20/2017 81,700 04/20/2018 10/20/2022 $ 13.35 $ 124 06/07/2018 102,125 06/07/2018 06/07/2023 $ 7.12 $ 87 06/27/2018 25,530 06/27/2018 06/27/2023 $ 7.12 $ 25 07/03/2018 57,439 07/03/2018 07/03/2023 $ 7.12 $ 58 07/03/2018 22,230 07/03/2018 07/03/2023 $ 6.54 $ 26 06/19/2019 46,875 12/24/2020 06/19/2024 $ 7.27 N/A (1) 10/03/2019 60 10/03/2019 10/03/2024 $ 7.73 $ — 07/16/2020 1,352,721 12/24/2020 07/16/2025 $ 3.76 $ 1,163 07/16/2020 18,990 12/24/2020 07/16/2025 $ 3.76 $ 64 1,707,670 (1) Values were not calculated at the issue date because the warrants were only exercisable in the event of a merger involving the Company and FCCG. The Company’s activity in warrants to purchase Class A common stock for the fiscal year ended December 26, 2021 was as follows: Number of Weighted Weighted Warrants outstanding at December 27, 2020 2,273,533 $ 5.68 4.3 Grants 8,184 $ 3.76 3.6 Exercised (571,198) $ 3.85 3.5 Cancelled (2,849) $ 3.76 3.6 Warrants outstanding at December 26, 2021 1,707,670 $ 4.72 3.2 Warrants exercisable at December 26, 2021 1,707,670 $ 4.72 3.2 (1) Exercise price adjusted due to cash dividends and Class B stock dividend. The Company’s warrant activity for the fiscal year ended December 27, 2020 was as follows: Number of Weighted Weighted Warrants outstanding at December 29, 2019 2,091,652 $ 3.57 3.4 Grants 2,203,190 $ 4.96 4.5 Forfeited (2,021,309) $ 2.71 3.6 Warrants outstanding at December 27, 2020 2,273,533 $ 5.68 4.3 Warrants exercisable at December 27, 2020 2,273,533 $ 5.68 4.3
Summary of Warrant Activity	As of December 26, 2021, the Company had issued outstanding warrants to purchase shares of its Class A common stock as follows: Issue Date Number of Warrants Outstanding Commencement Date Termination Date Exercise Price Value at Grant Date (in thousands) 10/20/2017 81,700 04/20/2018 10/20/2022 $ 13.35 $ 124 06/07/2018 102,125 06/07/2018 06/07/2023 $ 7.12 $ 87 06/27/2018 25,530 06/27/2018 06/27/2023 $ 7.12 $ 25 07/03/2018 57,439 07/03/2018 07/03/2023 $ 7.12 $ 58 07/03/2018 22,230 07/03/2018 07/03/2023 $ 6.54 $ 26 06/19/2019 46,875 12/24/2020 06/19/2024 $ 7.27 N/A (1) 10/03/2019 60 10/03/2019 10/03/2024 $ 7.73 $ — 07/16/2020 1,352,721 12/24/2020 07/16/2025 $ 3.76 $ 1,163 07/16/2020 18,990 12/24/2020 07/16/2025 $ 3.76 $ 64 1,707,670 (1) Values were not calculated at the issue date because the warrants were only exercisable in the event of a merger involving the Company and FCCG. The Company’s activity in warrants to purchase Class A common stock for the fiscal year ended December 26, 2021 was as follows: Number of Weighted Weighted Warrants outstanding at December 27, 2020 2,273,533 $ 5.68 4.3 Grants 8,184 $ 3.76 3.6 Exercised (571,198) $ 3.85 3.5 Cancelled (2,849) $ 3.76 3.6 Warrants outstanding at December 26, 2021 1,707,670 $ 4.72 3.2 Warrants exercisable at December 26, 2021 1,707,670 $ 4.72 3.2 (1) Exercise price adjusted due to cash dividends and Class B stock dividend. The Company’s warrant activity for the fiscal year ended December 27, 2020 was as follows: Number of Weighted Weighted Warrants outstanding at December 29, 2019 2,091,652 $ 3.57 3.4 Grants 2,203,190 $ 4.96 4.5 Forfeited (2,021,309) $ 2.71 3.6 Warrants outstanding at December 27, 2020 2,273,533 $ 5.68 4.3 Warrants exercisable at December 27, 2020 2,273,533 $ 5.68 4.3
Schedule of Assumptions Used for Stock-Based Compensation, Warrants	The range of assumptions used to establish the initial value of the warrants using the Black-Scholes valuation model were as follows: Warrants Expected dividend yield 4.00% - 6.63% Expected volatility 30.23% - 31.73% Risk-free interest rate 0.99% - 1.91% Expected term (in years) 3.8 - 5.0

Dividends on Common Stock (Tabl

Dividends on Common Stock (Tables)	12 Months Ended
	Dec. 26, 2021
Equity [Abstract]
Schedule of Dividends Declared	The dividends declared on the Company's common stock during the fiscal year ended December 26, 2021 are as follows: Declaration Date Dividend Per Share Record Date Payment Date Total Dividend April 20, 2021 $ 0.13 May 03, 2021 May 07, 2021 $ 1,607,000 June 1, 2021 $ 0.13 June 14, 2021 June 21, 2021 $ 1,590,000 August 24, 2021 $ 0.13 September 6, 2021 September 15, 2021 $ 2,116,000 November 2, 2021 $ 0.13 November 17, 2021 December 1, 2021 $ 2,129,000

Geographic Information and Ma_2

Geographic Information and Major Franchisees (Tables)	12 Months Ended
	Dec. 26, 2021
Geographic Information And Major Franchisees
Schedule of Revenues by Geographic Area	Revenues by geographic area are as follows (in thousands): Fiscal Year Ended Fiscal Year Ended United States $ 108,643 $ 14,146 Other countries 10,238 3,972 Total revenues $ 118,881 $ 18,118

Organization and Relationships

Organization and Relationships - Narrative (Details) $ in Thousands	12 Months Ended
	Dec. 26, 2021USD ($)franchiselocationsegment	Dec. 27, 2020USD ($)	Oct. 20, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Initial public offering percentage			20.00%
Number of franchise brands | franchise	17
Number of stores | location	2,369
Number of franchise units | franchise	2,240
Percent of total restaurants franchised	95.00%
Number of operating segments | segment	1
(Loss) income from operations	$ 824	$ (16,266)
Accumulated deficit	(52,479)	(20,896)
Working capital	(80,000)
Current portion of redeemable preferred stock, net	$ 67,500	7,961
Interest rate on unpaid cash proceeds	10.00%
Cash	$ 56,656	$ 3,944

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Narrative (Details) $ in Thousands	12 Months Ended
	Dec. 26, 2021USD ($)segment	Dec. 27, 2020USD ($)
Number of reportable segments | segment	1
Accounts receivable, net of allowance for doubtful accounts	$ 19,555	$ 4,208
Restricted cash	24,740	2,867
Non-current restricted cash	18,525	400
Accounts receivable, allowance for doubtful accounts	4,016	$ 739
Subordinated promissory note	$ 500
Lower Range
Weighted average useful lives of intangibles	9 years
Upper Range
Weighted average useful lives of intangibles	14 years
Minimum
Debt, interest rate percentage	6.00%
Royalty fee percentage	0.75%
Maximum
Debt, interest rate percentage	7.50%
Royalty fee percentage	7.00%

Mergers and Acquisitions - Narr

Mergers and Acquisitions - Narrative (Details) $ / shares in Units, $ in Thousands	Dec. 26, 2021USD ($)location$ / shares	Nov. 01, 2021	Oct. 01, 2021USD ($)franchisestateshares	Jul. 22, 2021USD ($)locationfranchisecountryshares	Jun. 22, 2021	Dec. 10, 2020USD ($)$ / sharesshares	Sep. 21, 2020USD ($)	Dec. 26, 2021USD ($)location$ / shares	Dec. 26, 2021USD ($)location$ / shares	Dec. 26, 2021USD ($)franchiselocation$ / shares	Dec. 27, 2020USD ($)$ / shares	Dec. 15, 2021USD ($)franchisestate
Business Acquisition [Line Items]
Number of stores | location	2,369							2,369	2,369	2,369
Number of states in which entity operates | state			26
Interest rate on unpaid cash proceeds related to acquisition	10.00%							10.00%	10.00%	10.00%
Value of shares issued										$ 26,732	$ 6,134
Number of franchise brands | franchise										17
Preferred stock, liquidation preference (in dollars per share) | $ / shares	$ 25							$ 25	$ 25	$ 25	$ 25
Series B Cumulative Preferred Stock
Business Acquisition [Line Items]
Dividend rate on preferred stock		8.25%			8.25%	8.25%				8.25%
Preferred stock, liquidation preference (in dollars per share) | $ / shares	$ 25					$ 25		$ 25	$ 25	$ 25
Fazoli Holdings, LLC
Business Acquisition [Line Items]
Net identifiable assets												$ 137,086
Number of stores | franchise												220
Revenue of acquiree	$ 3,200
Net income of acquiree	100
Number of states in which entity operates | state												27
Native Wings
Business Acquisition [Line Items]
Net identifiable assets												$ 20,094
Number of stores | franchise												23
Revenue of acquiree	300
Net income of acquiree	$ 200
Twin Peaks Buyer, LLC
Business Acquisition [Line Items]
Net identifiable assets			$ 310,281
Number of stores | franchise			87
Revenue of acquiree								$ 35,300
Net income of acquiree								$ 2,000
Cash portion of purchase price			$ 232,500
Note payable			10,300
Value of equity interests related to put/call agreement			67,500
Contingent consideration, range of outcomes, high			42,500
Contingent consideration, range of outcomes, low			$ 25,000
Twin Peaks Buyer, LLC | Series B Cumulative Preferred Stock, Initial Put/Call Shares
Business Acquisition [Line Items]
Number of purchase shares | shares			1,793,858
Twin Peaks Buyer, LLC | Series B Cumulative Preferred Stock, Secondary Put/Call Shares
Business Acquisition [Line Items]
Number of purchase shares | shares			1,053,535
Twin Peaks Buyer, LLC | Series B Cumulative Preferred Stock
Business Acquisition [Line Items]
Interest rate on unpaid cash proceeds related to acquisition			10.00%
Temporary equity issued			$ 67,500
GFG Holdings Inc
Business Acquisition [Line Items]
Net identifiable assets				$ 444,927
Number of stores | location				1,430
Revenue of acquiree									$ 46,600
Net income of acquiree									$ 9,400
Cash portion of purchase price				$ 355,100
Value of equity interests related to put/call agreement				$ 67,500
Number of franchise brands | franchise				5
Number of countries in which entity operates | country				12
GFG Holdings Inc | Series B Cumulative Preferred Stock
Business Acquisition [Line Items]
Equity issued on connection with acquisition (in shares) | shares				3,089,245
Temporary equity issued				$ 67,300
GFG Holdings Inc | Class A Shares
Business Acquisition [Line Items]
Equity issued on connection with acquisition (in shares) | shares				1,964,865
Value of shares issued				$ 22,500
Fog Cutter Capital Group Inc
Business Acquisition [Line Items]
Net identifiable assets						$ (47,483)
Johnny Rockets
Business Acquisition [Line Items]
Net identifiable assets							$ 24,730
Purchase price							$ 24,700
Merger Agreement | Fog Cutter Capital Group Inc
Business Acquisition [Line Items]
Equity consideration transferred (in shares) | shares						9,679,288
Merger Agreement | Fog Cutter Capital Group Inc | Series B Cumulative Preferred Stock
Business Acquisition [Line Items]
Preferred stock dividends (in shares) | shares						0.2319998077

Mergers and Acquisitions - Reco

Mergers and Acquisitions - Recognized Identified Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Dec. 26, 2021	Dec. 15, 2021	Oct. 01, 2021	Jul. 22, 2021	Dec. 27, 2020	Dec. 10, 2020	Sep. 21, 2020
Business Acquisition [Line Items]
Goodwill	$ 295,128				$ 10,909
Fazoli Holdings, LLC
Business Acquisition [Line Items]
Cash		$ 9,621
Accounts receivable		3,295
Assets held for sale		0
Prepaids and other current assets		1,817
Notes receivable		0
Other intangible assets, net		83,300
Goodwill		52,939
Right of use assets		43,062
Property, plant and equipment		21,996
Deferred tax asset, net		0
Other assets		304
Accounts payable		(5,770)
Accrued expenses		(7,430)
Accrued advertising		0
Deferred income		(1,522)
Litigation reserve		0
Due to affiliates		0
Debt		0
Operating lease liability		(48,760)
Deferred tax liability, net		(15,227)
Other liabilities		(537)
Total net identifiable assets		137,086
Native Wings
Business Acquisition [Line Items]
Cash		200
Accounts receivable		311
Assets held for sale		0
Prepaids and other current assets		97
Notes receivable		0
Other intangible assets, net		14,900
Goodwill		5,022
Right of use assets		209
Property, plant and equipment		61
Deferred tax asset, net		0
Other assets		0
Accounts payable		(5)
Accrued expenses		(224)
Accrued advertising		(89)
Deferred income		(179)
Litigation reserve		0
Due to affiliates		0
Debt		0
Operating lease liability		(209)
Deferred tax liability, net		0
Other liabilities		0
Total net identifiable assets		$ 20,094
Twin Peaks Buyer, LLC
Business Acquisition [Line Items]
Cash			$ 14,882
Accounts receivable			1,604
Assets held for sale			0
Prepaids and other current assets			2,822
Notes receivable			1,500
Other intangible assets, net			165,375
Goodwill			105,115
Right of use assets			43,748
Property, plant and equipment			46,847
Deferred tax asset, net			221
Other assets			543
Accounts payable			(5,159)
Accrued expenses			(6,418)
Accrued advertising			(3,503)
Deferred income			(3,618)
Litigation reserve			0
Due to affiliates			0
Debt			0
Operating lease liability			(44,678)
Deferred tax liability, net			0
Other liabilities			(9,000)
Total net identifiable assets			$ 310,281
GFG Holdings Inc
Business Acquisition [Line Items]
Cash				$ 8,737
Accounts receivable				7,268
Assets held for sale				0
Prepaids and other current assets				3,818
Notes receivable				0
Other intangible assets, net				348,250
Goodwill				122,864
Right of use assets				6,514
Property, plant and equipment				8,380
Deferred tax asset, net				0
Other assets				1,181
Accounts payable				(2,427)
Accrued expenses				(10,060)
Accrued advertising				(3,207)
Deferred income				(3,224)
Litigation reserve				0
Due to affiliates				0
Debt				0
Operating lease liability				(8,744)
Deferred tax liability, net				(34,061)
Other liabilities				(362)
Total net identifiable assets				$ 444,927
Fog Cutter Capital Group Inc
Business Acquisition [Line Items]
Cash						$ 0
Accounts receivable						0
Assets held for sale						0
Prepaids and other current assets						33
Notes receivable						0
Other intangible assets, net						0
Goodwill						0
Right of use assets						0
Property, plant and equipment						0
Deferred tax asset, net						20,402
Other assets						100
Accounts payable						(926)
Accrued expenses						(6,973)
Accrued advertising						0
Deferred income						0
Litigation reserve						(3,980)
Due to affiliates						(43,653)
Debt						(12,486)
Operating lease liability						0
Deferred tax liability, net						0
Other liabilities						0
Total net identifiable assets						$ (47,483)
Johnny Rockets
Business Acquisition [Line Items]
Cash							$ 812
Accounts receivable							1,452
Assets held for sale							10,765
Prepaids and other current assets							0
Notes receivable							0
Other intangible assets, net							26,900
Goodwill							0
Right of use assets							0
Property, plant and equipment							0
Deferred tax asset, net							4,297
Other assets							438
Accounts payable							(1,113)
Accrued expenses							(3,740)
Accrued advertising							0
Deferred income							(4,988)
Litigation reserve							0
Due to affiliates							0
Debt							0
Operating lease liability							(10,028)
Deferred tax liability, net							0
Other liabilities							(65)
Total net identifiable assets							$ 24,730

Mergers and Acquisitions - Pro

Mergers and Acquisitions - Pro Forma Revenue and Net Loss (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2021	Dec. 27, 2020
Business Combination and Asset Acquisition [Abstract]
Revenue	$ 366,749	$ 314,845
Net loss	$ (22,133)	$ (75,915)

Refranchising - Schedule of Ass

Refranchising - Schedule of Assets Classified as Held for Sale (Details) - USD ($) $ in Thousands	Dec. 26, 2021	Dec. 27, 2020
Refranchising
Property, plant and equipment	$ 804	$ 1,352
Operating lease right of use assets	4,672	9,479
Total	$ 5,476	$ 10,831

Refranchising - Narrative (Deta

Refranchising - Narrative (Details) - USD ($) $ in Thousands	Dec. 26, 2021	Dec. 27, 2020
Refranchising
Operating lease liabilities related to the assets classified as held for sale	$ 4,780	$ 9,892

Refranchising - Schedule of Gai

Refranchising - Schedule of Gain on Refranchising Restaurant Costs and Expenses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2021	Dec. 27, 2020
Refranchising loss	$ (314)	$ (3,827)
Restaurant sales | Assets classified as held for sale
Restaurant costs and expenses, net of revenue	(3,008)	(2,364)
Gains (loss) on store sales or closures	2,694	(1,463)
Refranchising loss	$ (314)	$ (3,827)

Notes Receivable - Narrative (D

Notes Receivable - Narrative (Details) - USD ($) $ in Millions	Jun. 19, 2019	Dec. 26, 2021	Dec. 27, 2020
Trade notes receivable		$ 0.5
Trade notes receivable, reserves		0.4
Elevation Burger | Elevation Buyer Note
Debt, interest rate percentage	6.00%
Trade notes receivable	$ 2.3
Carrying value of note	1.9	1.7	$ 1.8
Unamortized discount	$ 0.4	0.2	0.3
Interest income on notes receivable		0.2	$ 0.2
Twin Peaks Buyer, LLC | Twin Peaks Note
Trade notes receivable		$ 1.5
Minimum
Debt, interest rate percentage		6.00%
Maximum
Debt, interest rate percentage		7.50%

Property and Equipment - Change

Property and Equipment - Changes in Carrying Value (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2021	Dec. 27, 2020
Property, Plant and Equipment [Roll Forward]
Balance, beginning of year	$ 483	$ 143
Acquisitions	77,284	0
Additions	10,675	459
Dispositions	(5,345)	(39)
Depreciation expense	(2,596)	(80)
Balance, end of year	80,501	483
Real estate
Property, Plant and Equipment [Roll Forward]
Balance, beginning of year	0	0
Acquisitions	57,794	0
Additions	7,742	0
Dispositions	(5,032)	0
Depreciation expense	(1,640)	0
Balance, end of year	58,864	0
Equipment
Property, Plant and Equipment [Roll Forward]
Balance, beginning of year	483	143
Acquisitions	19,490	0
Additions	2,933	459
Dispositions	(313)	(39)
Depreciation expense	(956)	(80)
Balance, end of year	$ 21,637	$ 483

Property and Equipment - Carryi

Property and Equipment - Carrying Value of Property and Equipment (Details) - USD ($) $ in Thousands	Dec. 26, 2021	Dec. 27, 2020	Dec. 29, 2019
Property, Plant and Equipment [Line Items]
Gross Carrying Amount	$ 83,403	$ 727
Accumulated Depreciation	(2,902)	(244)
Property and equipment, net	80,501	483	$ 143
Real estate
Property, Plant and Equipment [Line Items]
Gross Carrying Amount	60,504	0
Accumulated Depreciation	(1,640)	0
Property and equipment, net	58,864	0	0
Equipment
Property, Plant and Equipment [Line Items]
Gross Carrying Amount	22,899	727
Accumulated Depreciation	(1,262)	(244)
Property and equipment, net	$ 21,637	$ 483	$ 143

Goodwill - Schedule of Goodwill

Goodwill - Schedule of Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2021	Dec. 27, 2020
Gross Goodwill:
Balance, beginning of year	$ 12,373	$ 10,912
Acquired	285,940	1,461
Adjustment to preliminary purchase allocation	(1,460)	0
Balance, end of year	296,853	12,373
Accumulated Impairment:
Balance, beginning of year	(1,464)	0
Impairment	(261)	(1,464)
Balance, end of year	(1,725)	(1,464)
Net carrying value	$ 295,128	$ 10,909

Goodwill - Narrative (Details)

Goodwill - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2021	Dec. 27, 2020
Goodwill [Line Items]
Impairment	$ (261)	$ (1,464)
Yalla Mediterranean
Goodwill [Line Items]
Impairment	$ (300)
Ponderosa and Bonanza Brands
Goodwill [Line Items]
Impairment		$ (1,500)

Other Intangible Assets - Sched

Other Intangible Assets - Schedule of Changes in Carrying Value of Other Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2021	Dec. 27, 2020
Amortizing
Balance, beginning of year	$ 12,643	$ 7,282
Impairment	0	(147)
Amortization expense	(5,970)	(1,092)
Acquired	168,923	6,600
Balance, end of year	175,596	12,643
Non-Amortizing
Balance, beginning of year	35,068	22,452
Impairment	(776)	(7,684)
Acquired	442,900	20,300
Balance, end of year	477,192	35,068
Total
Balance, beginning of year	47,711	29,734
Impairment	(776)	(7,831)
Acquired	611,823	26,900
Balance, end of year	$ 652,788	$ 47,711

Other Intangible Assets - Sch_2

Other Intangible Assets - Schedule of Changes in Carrying Value of Amortizing Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 26, 2021	Dec. 27, 2020	Dec. 29, 2019
Gross Carrying Amount	$ 183,632	$ 14,707
Accumulated Amortization	(8,036)	(2,064)
Total	175,596	12,643	$ 7,282
Franchise agreements
Gross Carrying Amount	109,357	14,707
Accumulated Amortization	(5,668)	(2,064)
Total	103,689	12,643
Customer relationships
Gross Carrying Amount	73,900	0
Accumulated Amortization	(2,368)	0
Total	71,532	0
Other
Gross Carrying Amount	375	0
Accumulated Amortization	0	0
Total	$ 375	$ 0

Other Intangible Assets - Narra

Other Intangible Assets - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2021	Dec. 27, 2020
Impairment of finite lived intangible assets	$ 0	$ 147
Franchise agreements
Impairment of finite lived intangible assets		100
Trademarks
Impairment of finite lived intangible assets	$ 800	$ 7,700

Other Intangible Assets - Sch_3

Other Intangible Assets - Schedule of Future Amortization Expense (Details) - USD ($) $ in Thousands	Dec. 26, 2021	Dec. 27, 2020	Dec. 29, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
2022	$ 14,530
2023	14,530
2024	14,225
2025	14,031
2026	14,031
Thereafter	104,249
Total	$ 175,596	$ 12,643	$ 7,282

Deferred Income - Schedule of D

Deferred Income - Schedule of Deferred Income (Details) - USD ($) $ in Thousands	Dec. 26, 2021	Dec. 27, 2020
Contract with Customer, Liability [Abstract]
Deferred franchise fees	$ 19,778	$ 5,417
Deferred royalties	165	422
Deferred vendor incentives	356	303
Total	$ 20,298	$ 6,142

Income Taxes - Schedule of Comp

Income Taxes - Schedule of Components of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 26, 2021	Dec. 27, 2020
Income Tax Disclosure [Abstract]
Net federal and state operating loss carryforwards	$ 43,806	$ 24,463
Deferred revenue	4,085	2,681
Intangibles	(86,200)	(5,820)
Deferred state income tax	638
Deferred state income tax		(240)
Reserves and accruals	7,270	2,185
Interest expense carryforward	22,388	4,858
Tax credits	144	466
Share-based compensation	857	228
Interest expense	0	1,631
Fixed assets	(2,893)
Fixed assets		504
Operating lease right of use assets	(23,866)	(1,271)
Operating lease liabilities	26,098	1,269
Valuation allowance	(5,212)	(513)
Other	(36)
Other		110
Total	$ (12,921)	0
Total		$ 30,551

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2021	Dec. 27, 2020	Jul. 22, 2021
Increase in valuation allowance	$ 5,200	$ 500
Tax credits	144	466
GFG Holdings Inc
Deferred tax liability, net			$ 34,061
Domestic Tax Authority
Net operating loss carryforwards	159,300	98,100
State and Local Jurisdiction
Net operating loss carryforwards	$ 134,100	$ 58,700

Income Taxes - Schedule of Co_2

Income Taxes - Schedule of Components of the Income Tax (Benefit) Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2021	Dec. 27, 2020
Current
Federal	$ 0	$ (118)
State	952	40
Foreign	815	466
Current income tax expense (benefit), total	1,767	388
Deferred
Federal	(5,068)	(3,199)
State	(236)	(878)
Deferred: income tax expense (benefit), total	(5,304)	(4,077)
Total income tax (benefit) expense	$ (3,537)	$ (3,689)

Income Taxes - Schedule of Stat

Income Taxes - Schedule of Statutory Income Tax Rate to Pretax Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2021	Dec. 27, 2020
Income Tax Disclosure [Abstract]
Tax benefit at statutory rate	$ (7,382)	$ (3,895)
State and local income taxes	566	(661)
Valuation allowances	1,520	0
Foreign taxes	550	466
Return to tax provision adjustment	466	0
Tax credits	0	(222)
Dividends on preferred stock	466	138
Goodwill impairment	0	417
Other	277	68
Total income tax (benefit) expense	$ (3,537)	$ (3,689)

Leases - Narrative (Details)

Leases - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 26, 2021USD ($)lease	Dec. 27, 2020USD ($)
Number of leased properties | lease	135
Lease expense | $	$ 6.3	$ 2
Weighted average remaining lease term	15 years 4 months 24 days
Weighted average discount rate	9.40%
Minimum
Remaining lease term	1 month
Maximum
Remaining lease term	23 years 9 months 18 days

Leases - Summary of Operating L

Leases - Summary of Operating Lease Right of Use Assets and Operating Lease Liabilities Relating to Operating Leases (Details) - USD ($) $ in Thousands	Dec. 26, 2021	Dec. 27, 2020
Operating lease right of use assets	$ 98,552	$ 4,469
Corporate Offices and For Certain Restaurant Properties
Operating lease right of use assets	103,224	13,948
Total operating Lease liabilities	112,041	14,651
Corporate Offices and For Certain Restaurant Properties | Continuing operations
Operating lease right of use assets	98,552	4,469
Total operating Lease liabilities	107,261	4,759
Corporate Offices and For Certain Restaurant Properties | Held for sale
Operating lease right of use assets	4,672	9,479
Total operating Lease liabilities	$ 4,780	$ 9,892

Leases - Schedule of Contractua

Leases - Schedule of Contractual Future Maturities of Operating Lease Liabilities (Details) - Corporate Offices and For Certain Restaurant Properties - USD ($) $ in Thousands	Dec. 26, 2021	Dec. 27, 2020
2022	$ 16,773
2023	15,758
2024	14,692
2025	14,263
2026	13,228
Thereafter	164,382
Total lease payments	239,096
Less imputed interest	127,055
Total	$ 112,041	$ 14,651

Leases - Summary of Supplementa

Leases - Summary of Supplemental Cash Flow Information Related to Leases (Details) - Corporate Offices and For Certain Restaurant Properties - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2021	Dec. 27, 2020
Operating cash flows from operating leases	$ 5,665	$ 1,202
Operating lease liabilities	$ 105,613	$ 14,500

Debt - Schedule of Securitizati

Debt - Schedule of Securitization of Notes (Details) - USD ($)	Dec. 15, 2021	Oct. 01, 2021	Jul. 22, 2021	Apr. 26, 2021
Class A-2
Seniority	Senior	Senior	Senior	Senior
Principal Balance	$ 128,760,000	$ 150,000,000	$ 209,000,000	$ 97,104,000
Coupon	6.00%	7.00%	6.00%	4.75%
Weighted Average Life (Years)	1 year 7 months 9 days	1 year 9 months 21 days	2 years 3 days	2 years 3 months
Non-Call Period (Months)	6 months	6 months	6 months	6 months
Anticipated Call Date	Jul. 25, 2023	Jul. 25, 2023	Jul. 25, 2023	Jul. 25, 2023
Final Legal Maturity Date	Jul. 25, 2051	Jul. 25, 2051	Jul. 25, 2051	Apr. 25, 2051
Class B-2
Seniority	Senior Subordinated	Senior Subordinated	Senior Subordinated	Senior Subordinated
Principal Balance	$ 25,000,000	$ 50,000,000	$ 84,000,000	$ 32,368,000
Coupon	7.00%	9.00%	7.00%	8.00%
Weighted Average Life (Years)	1 year 7 months 9 days	1 year 9 months 21 days	2 years 3 days	2 years 3 months
Non-Call Period (Months)	6 months	6 months	6 months	6 months
Anticipated Call Date	Jul. 25, 2023	Jul. 25, 2023	Jul. 25, 2023	Jul. 25, 2023
Final Legal Maturity Date	Jul. 25, 2051	Jul. 25, 2051	Jul. 25, 2051	Apr. 25, 2051
Class M-2
Seniority	Subordinated	Subordinated	Subordinated	Subordinated
Principal Balance	$ 40,000,000	$ 50,000,000	$ 57,000,000	$ 15,000,000
Coupon	9.00%	10.00%	9.50%	9.00%
Weighted Average Life (Years)	1 year 7 months 9 days	1 year 9 months 21 days	2 years 3 days	2 years 3 months
Non-Call Period (Months)	6 months	6 months	6 months	6 months
Anticipated Call Date	Jul. 25, 2023	Jul. 25, 2023	Jul. 25, 2023	Jul. 25, 2023
Final Legal Maturity Date	Jul. 25, 2051	Jul. 25, 2051	Jul. 25, 2051	Apr. 25, 2051
Series Note A-2
Public Rating				BB
Seniority				Senior
Extinguishment of debt				$ 20,000,000
Coupon				6.50%
First Call Date				Apr. 27, 2021
Final Legal Maturity Date				Apr. 27, 2026
Series Note B-2
Public Rating				B
Seniority				Senior Subordinated
Extinguishment of debt				$ 20,000,000
Coupon				9.00%
First Call Date				Apr. 27, 2021
Final Legal Maturity Date				Apr. 27, 2026
Series Note M-2
Seniority				Subordinated
Extinguishment of debt				$ 40,000,000
Coupon				9.75%
First Call Date				Apr. 27, 2021
Final Legal Maturity Date				Apr. 27, 2026

Debt - Narrative (Details)

Debt - Narrative (Details) - USD ($)	Dec. 15, 2021	Oct. 01, 2021	Aug. 25, 2021	Jul. 22, 2021	Apr. 26, 2021	Jun. 30, 2021	Dec. 26, 2021	Dec. 27, 2020	Jun. 19, 2019
Debt Instrument [Line Items]
Gain on extinguishment of debt			$ (1,200,000)				$ (7,637,000)	$ (88,000)
Common stock, par value (in dollars per share)							$ 0.0001	$ 0.0001
Elevation Burger
Debt Instrument [Line Items]
Face amount of debt									$ 7,500,000
Deferred offering costs									100,000
Unamortized discount									$ 1,300,000
Debt, interest rate percentage									6.00%
Common stock, par value (in dollars per share)									$ 12
Notes payable									$ 6,100,000
Fog Cutter Acquisition LLC
Debt Instrument [Line Items]
Payments of debt assumed in merger						$ 12,500,000
Interest expense							$ 200,000
2021 Securitization Notes
Debt Instrument [Line Items]
Proceeds from issuance of debt					$ 140,800,000		141,300,000
Face amount of debt					144,500,000
Deferred offering costs					3,000,000		2,600,000
Unamortized discount					$ 700,000		600,000
Interest expense							6,200,000
Amortization of debt offering costs							400,000
Amortization of original issue discount							$ 100,000
Increase in interest rate							1.00%
Debt instrument interest rate							6.60%
Payoff amount							$ 83,700,000
Debt repayment							80,000,000
Accrued interest							2,200,000
Prepayment premiums							1,500,000
Gain on extinguishment of debt							7,800,000
2020 Securitization Notes
Debt Instrument [Line Items]
Interest expense							2,600,000	$ 4,200,000
GFG Securitization Notes
Debt Instrument [Line Items]
Proceeds from issuance of debt				$ 338,900,000			339,900,000
Face amount of debt				350,000,000
Deferred offering costs				6,000,000			5,500,000
Unamortized discount				$ 5,100,000			4,600,000
Interest expense							11,100,000
Amortization of debt offering costs							500,000
Amortization of original issue discount							$ 500,000
Increase in interest rate							1.00%
Debt instrument interest rate							7.60%
Twin Peaks Securitization Notes
Debt Instrument [Line Items]
Proceeds from issuance of debt		$ 236,900,000					$ 237,600,000
Face amount of debt		250,000,000
Deferred offering costs		5,600,000					5,300,000
Unamortized discount		$ 7,500,000					7,100,000
Interest expense							5,500,000
Amortization of debt offering costs							100,000
Amortization of original issue discount							$ 300,000
Debt instrument interest rate							9.80%
Fazoli's-Native Securitization Notes
Debt Instrument [Line Items]
Proceeds from issuance of debt	$ 180,600,000						$ 180,600,000
Face amount of debt	193,800,000
Deferred offering costs	3,800,000						3,700,000
Unamortized discount	$ 9,400,000						9,400,000
Interest expense							500,000
Amortization of debt offering costs							25,000
Amortization of original issue discount							$ 100,000
Increase in interest rate							1.00%
Debt instrument interest rate							9.00%
Elevation Note
Debt Instrument [Line Items]
Deferred offering costs							$ 45,519
Unamortized discount							600,000
Amortization of debt offering costs							300,000	300,000
Amortization of original issue discount							$ 10,000	10,000
Debt instrument interest rate							11.40%
Carrying amount of debt							$ 5,600,000
Interest expense							700,000	700,000
PPP Loans
Debt Instrument [Line Items]
Proceeds from issuance of debt								1,500,000
Interest expense							4,000
Gain on extinguishment of debt							$ 1,200,000
Carrying amount of debt								$ 1,200,000

Debt - Maturities of Long-term

Debt - Maturities of Long-term Debt and Redemptions of Redeemable Preferred Stock (Details) $ in Thousands	Dec. 26, 2021USD ($)
Long-term Debt
2022	$ 631
2023	10,228
2024	19,722
2025	19,848
2026	20,776
Redeemable Preferred Stock
2022	135,000
2023	0
2024	0
2025	0
2026	$ 0

Preferred Stock - Narrative (De

Preferred Stock - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	Nov. 01, 2021	Aug. 25, 2021	Jun. 22, 2021	Dec. 23, 2020	Dec. 10, 2020	Jul. 16, 2020	Jul. 13, 2020	Jun. 08, 2020	Dec. 31, 2020	Dec. 26, 2021	Dec. 27, 2020	Jul. 15, 2020
Preferred stock, outstanding (in shares)										3,221,471	1,183,272
Preferred stock, liquidation preference (in dollars per share)										$ 25	$ 25
Common stock, outstanding (in shares)										16,380,552	11,926,264
Preferred stock, issued (in shares)										3,221,471	1,183,272
Value of shares issued										$ 26,732	$ 6,134
Redemption of shares, value		$ 8,000									8,000
Issuance of preferred shares, net										26,732	8,122
Loss on extinguishment of debt		$ 1,200								$ 7,637	$ 88
Special dividend
Issuance of preferred stock (in shares)				520,145
Dividend paid in cash for fractional shares				$ 29
Value of shares issued				$ 8,900
Series B Preferred Offering
Consideration received on transaction						$ 8,100
Underwriting and offering costs						$ 900
Series B Cumulative Preferred Stock
Dividend rate on preferred stock	8.25%		8.25%		8.25%					8.25%
Preferred stock, liquidation preference (in dollars per share)					$ 25					$ 25
Increase in dividend rate										10.00%
Carrying value of original preferred stock										$ 1,500
Value of the conversion of preferred shares following updated Certificate of Designation										1,100
Agregate loss on exchange										$ 11
New shares received in exchange of preferred stock (in shares)										60,000
Preferred stock, carrying value										$ 1,500
Issuance of preferred stock (in shares)			460,000							14,449
Underwriting discounts and other offering expenses			$ 900
Issuance of preferred shares, net			$ 8,300
Issuance of common stock (in dollars per share)	$ 18		$ 20
Series B Cumulative Preferred Stock | First anniversary and on or prior to the second anniversary
Preferred stock redemption price (in dollars per share)										$ 27.50
Series B Cumulative Preferred Stock | Second anniversary and on or prior to the third anniversary
Preferred stock redemption price (in dollars per share)										27
Series B Cumulative Preferred Stock | After the third anniversary
Preferred stock redemption price (in dollars per share)										26.50
Series B Cumulative Preferred Stock | After the third anniversary and on or prior to the fourth anniversary
Preferred stock redemption price (in dollars per share)										26
Series B Cumulative Preferred Stock | After third before fifth anniversery
Preferred stock redemption price (in dollars per share)										25
Series B Cumulative Preferred Stock | After the fifth anniversary
Preferred stock redemption price (in dollars per share)										$ 25.50
Series B Cumulative Preferred Stock | Over-Allotment Option
Stock issued in public offering (in shares)	1,000,000
Consideration received on transaction	$ 16,800
Payments of stock issuance costs	$ 1,200
2020 Series B Offering Warrants
Warrants outstanding (in shares)							1,800,000
Additional underwriters overallotment shares							99,000
Exercise price to purchase a share of common stock (in dollars per share)							$ 5
Value of warrants issued to holders of Original Series B Preferred Stock										$ 300
Series B Preferred Stock
Preferred stock, outstanding (in shares)										3,221,471	1,183,272	57,140
Preferred stock, issued (in shares)		478,199
Preferred stock, carrying value										$ 55,700	$ 21,800
Dividend paid in cash for fractional shares											$ 500
Dividend declared										4,100
Preferred stock issued, value		$ 10,800
Redeemable preferred stock excluded from preferred stock dividends (in shares)											5,936,638
Series B Preferred Stock | Special dividend
Stock dividends (in shares)									0.2319998077
Series B Warrants
Exercise price to purchase a share of common stock (in dollars per share)												$ 8.50
Warrants issued (in shares)												34,284
Original Series B Preferred Stock
Carrying value of original preferred stock										1,100
Agregate loss on exchange										$ 300
Preferred stock, issued (in shares)										3,537
Accrued and outstanding dividend										$ 100
Sale of stock (in dollars per share)										$ 25
Original Series B Preferred Stock | Prior to updated certificate of designation
Common stock, outstanding (in shares)										57,140
Series A Preferred Stock
Preferred stock, outstanding (in shares)										80,000
Accrued and outstanding dividend										$ 400
Dividends on preferred stock		$ 1,600
Converted to preferred stock							$ 900	$ 2,400
Number of exchanged outstanding shares of preferred stock (in shares)		80,000
Interest expense										$ 700	$ 1,400
Decrease in value of derivative liability							$ 1,500
Series A Preferred Stock | Holders
Issuance of common stock (in dollars per share)										$ 100
Series A Preferred Stock | FCCG
Number of exchanged outstanding shares of preferred stock (in shares)							15,000
Series A Preferred Stock | FCCG | Holders
Number of shares agreeing to cash buyout							85,000
Series A-1 Preferred Stock
Carrying value of original preferred stock										$ 4,400
Series B preferred stock exchanged for shares (in shares)										168,001
Value of Series B preferred stock exchanged for shares										$ 4,200
Aggregate gain on exchange										$ 200
Interest expense											$ 100
Underwriting Agreement | Series B Cumulative Preferred Stock
Stock issued in public offering (in shares)							360,000

Redeemable Preferred Stock (Det

Redeemable Preferred Stock (Details) - USD ($) $ in Thousands	Oct. 01, 2021	Jul. 22, 2021	Dec. 26, 2021	Dec. 27, 2020
Temporary Equity [Line Items]
Redeemable preferred stock			$ 64,455	$ 0
Dividends declared on redeemable preferred stock			$ 2,283	$ 0
Interest rate on unpaid cash proceeds related to acquisition			10.00%
GFG Holdings Inc
Temporary Equity [Line Items]
Value of equity interests related to put/call agreement		$ 67,500
Redeemable preferred stock			$ 64,500
Dividends declared on redeemable preferred stock			2,800
GFG Holdings Inc | Series B Cumulative Preferred Stock
Temporary Equity [Line Items]
Temporary equity issued (in shares)		3,089,245
Temporary equity issued		$ 67,300
Twin Peaks Buyer, LLC
Temporary Equity [Line Items]
Value of equity interests related to put/call agreement	$ 67,500
Redeemable preferred stock			67,500
Dividends declared on redeemable preferred stock			$ 1,500
Contingent consideration, range of outcomes, high	42,500
Contingent consideration, range of outcomes, low	$ 25,000
Twin Peaks Buyer, LLC | Series B Cumulative Preferred Stock
Temporary Equity [Line Items]
Temporary equity issued (in shares)	2,847,393
Temporary equity issued	$ 67,500
Interest rate on unpaid cash proceeds related to acquisition	10.00%
Twin Peaks Buyer, LLC | Series B Cumulative Preferred Stock, Initial Put/Call Shares
Temporary Equity [Line Items]
Number of purchase shares	1,793,858
Twin Peaks Buyer, LLC | Series B Cumulative Preferred Stock, Secondary Put/Call Shares
Temporary Equity [Line Items]
Number of purchase shares	1,053,535

Related Party Transactions - Na

Related Party Transactions - Narrative (Details) - USD ($) $ in Millions	Jul. 05, 2018	Dec. 26, 2021	Dec. 27, 2020	Apr. 24, 2020	Oct. 20, 2017
Maximum
Debt, interest rate percentage		7.50%
Homestyle Dining LLC
Face amount of debt	$ 4
Preferred Interest	15.00%
Intercompany Promissory Note | FCCG
Debt, interest rate percentage				10.00%
Intercompany Promissory Note | FCCG | Intercompany Promissory Note
Face amount of debt				$ 21.1	$ 11.9
Intercompany Promissory Note | FCCG | Intercompany Promissory Note | Maximum
Face amount of debt				$ 35
Tax Sharing Agreement
Due from related parties			$ 0.2

Shareholders' Equity - Narrativ

Shareholders' Equity - Narrative (Details) $ / shares in Units, $ in Thousands	Nov. 11, 2021USD ($)shares	Nov. 02, 2021USD ($)$ / shares	Aug. 24, 2021USD ($)$ / shares	Aug. 23, 2021$ / sharesshares	Jul. 22, 2021USD ($)shares	Jun. 21, 2021USD ($)shares	Jun. 01, 2021$ / shares	May 07, 2021USD ($)	Apr. 20, 2021$ / shares	May 18, 2021USD ($)shares	Dec. 26, 2021USD ($)voteshares	Dec. 27, 2020USD ($)shares
Common stock, authorized (in shares)											51,600,000	25,000,000
Common stock, outstanding (in shares)											16,380,552	11,926,264
Common stock, issued (in shares)											16,380,552	11,926,264
Common stock dividends (in dollars per share) | $ / shares				$ 0.10
Exercise of warrants | $											$ 2,567	$ 0
Stock option vesting period											3 years
Value of shares issued | $											$ 26,732	6,134
Dividends declared on common stock | $											7,442
Share-based compensation expense | $											1,600	$ 100
Yalla Mediterranean
Issuance of common stock in connection with acquisition of Yalla Mediterranean (in shares)						62,500
Value of shares issued | $						$ 800
Restricted Stock
Restricted stock issued (in shares)										300,000
Stock option vesting period										3 years
Restricted stock issued | $										$ 2,800
Warrant
Exercise of warrants | $											$ 2,600
Board of Directors
Common stock dividends (in dollars per share) | $ / shares		$ 0.13	$ 0.13				$ 0.13		$ 0.13
Dividends declared on common stock | $		$ 2,100	$ 2,100			$ 1,600		$ 1,600
Non-Employee Board Member
Share-based compensation expense (in shares)	1,401
Share-based compensation expense | $	$ 15
Class A Shares
Common stock, authorized (in shares)											50,000,000
Number of votes per share | vote											1
Common stock, outstanding (in shares)											15,109,747
Common stock, issued (in shares)											15,109,747
Issuance of common stock through exercise of warrants (in shares)											559,988
Class A Shares | GFG Holdings Inc
Value of shares issued | $					$ 22,500
Equity issued on connection with acquisition (in shares)					1,964,865
Class B Shares
Common stock, authorized (in shares)											1,600,000
Number of votes per share | vote											2,000
Common stock, outstanding (in shares)				1,270,805							1,270,805
Common stock, issued (in shares)											1,270,805

Share-Based Compensation (Detai

Share-Based Compensation (Details Narrative) - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2021	Dec. 27, 2020
Stock option vesting period	3 years
Share-based compensation expense	$ 1,600	$ 100
Stock based compensation to non-vested grants	$ 13,900
Three Employees
Share-based compensation (in shares)	300,000
Share-based compensation	$ 2,800
2017 Omnibus Equity Incentive Plan | Maximum
Shares available for grant (in shares)	4,000,000

Share-Based Compensation - Sche

Share-Based Compensation - Schedule of Stock Option Activity (Details) - $ / shares	12 Months Ended
	Dec. 26, 2021	Dec. 27, 2020
Number of Shares
Stock options outstanding, beginning of period (in shares)	656,105
Grants (in shares)	2,135,680
Forfeited (in shares)	0
Expired (in shares)	0
Stock options outstanding, end of period (in shares)	2,791,785	656,105
Stock options exercisable (in shares)	579,515
Weighted Average Exercise Price
Stock options outstanding, beginning balance (in dollars per share)	$ 7.46
Grants (in dollars per share)	11.43
Forfeited (in dollars per share)	0
Expired (in dollars per share)	0
Stock options outstanding, endingbalance (in dollars per share)	10.50	$ 7.46
Stock options exercisable (in dollars per share)	$ 7.75
Weighted Average Remaining Contractual Life (Years)
Stock options outstanding		6 years 4 months 24 days
Grants	9 years 10 months 24 days
Forfeited	0 years
Expired	0 years
Stock options outstanding	9 years 1 month 6 days
Stock options exercisable	6 years 1 month 6 days

Share-Based Compensation - Sc_2

Share-Based Compensation - Schedule of Assumptions Used for Stock-based Compensation (Details) - Including Non-Employee Options	12 Months Ended
	Dec. 26, 2021
Expected volatility	88.80%
Expected term (in years)	6 years
Minimum
Expected dividend yield	4.60%
Risk-free interest rate	1.30%
Maximum
Expected dividend yield	5.50%
Risk-free interest rate	1.40%

Warrants - Outstanding Warrants

Warrants - Outstanding Warrants (Details) - Warrant - USD ($) $ / shares in Units, $ in Thousands	Dec. 26, 2021	Jul. 16, 2020	Jul. 03, 2018	Jun. 27, 2018	Jun. 07, 2018	Oct. 20, 2017
Class of Warrant or Right [Line Items]
Number of Warrants Outstanding (in shares)	1,707,670
10/20/2017
Class of Warrant or Right [Line Items]
Number of Warrants Outstanding (in shares)	81,700
Exercise price to purchase a share of common stock (in dollars per share)	$ 13.35
Value at Grant Date (in thousands)						$ 124
06/07/2018
Class of Warrant or Right [Line Items]
Number of Warrants Outstanding (in shares)	102,125
Exercise price to purchase a share of common stock (in dollars per share)	$ 7.12
Value at Grant Date (in thousands)					$ 87
06/27/2018
Class of Warrant or Right [Line Items]
Number of Warrants Outstanding (in shares)	25,530
Exercise price to purchase a share of common stock (in dollars per share)	$ 7.12
Value at Grant Date (in thousands)				$ 25
07/03/2018 Grant 1
Class of Warrant or Right [Line Items]
Number of Warrants Outstanding (in shares)	57,439
Exercise price to purchase a share of common stock (in dollars per share)	$ 7.12
Value at Grant Date (in thousands)			$ 58
07/03/2018 Grant 2
Class of Warrant or Right [Line Items]
Number of Warrants Outstanding (in shares)	22,230
Exercise price to purchase a share of common stock (in dollars per share)	$ 6.54
Value at Grant Date (in thousands)			$ 26
06/19/2019
Class of Warrant or Right [Line Items]
Number of Warrants Outstanding (in shares)	46,875
Exercise price to purchase a share of common stock (in dollars per share)	$ 7.27
10/03/2019
Class of Warrant or Right [Line Items]
Number of Warrants Outstanding (in shares)	60
Exercise price to purchase a share of common stock (in dollars per share)	$ 7.73
07/16/2020 Grant 1
Class of Warrant or Right [Line Items]
Number of Warrants Outstanding (in shares)	1,352,721
Exercise price to purchase a share of common stock (in dollars per share)	$ 3.76
Value at Grant Date (in thousands)		$ 1,163
07/16/2020 Grant 2
Class of Warrant or Right [Line Items]
Number of Warrants Outstanding (in shares)	18,990
Exercise price to purchase a share of common stock (in dollars per share)	$ 3.76
Value at Grant Date (in thousands)		$ 64

Warrants - Summary of Warrant A

Warrants - Summary of Warrant Activity (Details) - Warrant - $ / shares	12 Months Ended
	Dec. 26, 2021	Dec. 27, 2020
Number of Shares
Warrants outstanding, Beginning balance (in shares)	2,273,533	2,091,652
Grants (in shares)	8,184	2,203,190
Exercised (in shares)	(571,198)
Forfeited (in shares)	(2,849)	(2,021,309)
Warrants outstanding, Ending balance (in shares)	1,707,670	2,273,533
Warrants exercisable, Ending balance (in shares)	1,707,670	2,273,533
Weighted Average Exercise Price
Weighted average exercise price of outstanding warrants, Beginning balance (in dollars per share)	$ 5.68	$ 3.57
Weighted average exercise price of grants (in dollars per share)	3.76	4.96
Weighted average exercise price of warrants exercised (in dollars per share)	3.85
Weighted average exercise price of forfeitures (in dollars per share)	3.76	2.71
Weighted average exercise price of outstanding warrants, Ending balance (in dollars per share)	4.72	5.68
Weighted average exercise price of exercisable warrants, Ending balance (in dollars per share)	$ 4.72	$ 5.68
Weighted Average Remaining Contractual Life (Years)
Weighted average remaining contractual life (in years) of warrants outstanding. Beginning balance	4 years 3 months 18 days	3 years 4 months 24 days
Weighted average remaining contractual life (in years) of warrants granted	3 years 7 months 6 days	4 years 6 months
Weighted average remaining contractual life (in years) of warrants exercised	3 years 6 months
Weighted average remaining contractual life (in years) of warrants forfeited	3 years 7 months 6 days	3 years 7 months 6 days
Weighted average remaining contractual life (in years) of warrants outstanding, Ending balance	3 years 2 months 12 days	4 years 3 months 18 days
Weighted average remaining contractual life (in years) of warrants exercisable, Ending balance	3 years 2 months 12 days	4 years 3 months 18 days

Warrants - Schedule of Assumpti

Warrants - Schedule of Assumptions Used for Stock-Based Compensation, Warrants (Details)	Dec. 26, 2021
Expected dividend yield | Minimum
Measurement input	0.0400
Expected dividend yield | Maximum
Measurement input	0.0663
Expected volatility | Minimum
Measurement input	0.3023
Expected volatility | Maximum
Measurement input	0.3173
Risk-free interest rate | Minimum
Measurement input	0.0099
Risk-free interest rate | Maximum
Measurement input	0.0191
Expected term (in years) | Minimum
Warrants, expected term	3 years 9 months 18 days
Expected term (in years) | Maximum
Warrants, expected term	5 years

Warrants - Narrative (Details)

Warrants - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 26, 2021	Jul. 16, 2020
Common stock issued through exercise of warrants (in shares)	559,988
Net proceeds from exercise of warrants	$ 2,600
Series B Preferred Stock | Expected term (in years)
Warrants, expected term		1 year
Warrant
Number of Warrants Outstanding (in shares)	1,707,670
Warrants exercised (in shares)	571,198
Warrant | Series B Preferred Stock
Number of Warrants Outstanding (in shares)		3,600
Exercise price (in dollars per share)		$ 24.95
Value at Grant Date (in thousands)		$ 2

Dividends on Common Stock (Deta

Dividends on Common Stock (Details) - USD ($) $ / shares in Units, $ in Thousands	Dec. 23, 2020	Dec. 31, 2020	Nov. 02, 2021	Aug. 24, 2021	Jun. 01, 2021	Apr. 20, 2021
Board of Directors
Dividend Per Share (in dollars per share)			$ 0.13	$ 0.13	$ 0.13	$ 0.13
Total Dividend			$ 2,129	$ 2,116	$ 1,590	$ 1,607
Series B Preferred Stock | Special dividend
Stock dividends (in shares)		0.2319998077
Cash paid for fractional shares		$ 29
Common stock issued (in shares)	520,145
Payments of market value preferred stock	$ 8,900

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details)	1 Months Ended			12 Months Ended
	May 31, 2019USD ($)	May 31, 2018USD ($)	Feb. 28, 2018USD ($)	Dec. 26, 2021USD ($)ft²location
Number of owned and operated restaurants | location				126
Number of leased and operated restaurants | location				120
Initial Lease | Corporate Offices and For Certain Restaurant Properties
Area of leased space | ft²				13,000
Lease Amendment | Corporate Offices and For Certain Restaurant Properties
Area of leased space | ft²				3,000
GFG Holdings Inc | Offices
Area of leased space | ft²				9,000
GFG Holdings Inc | Warehouse
Area of leased space | ft²				16,000
Twin Peaks Buyer, LLC | Offices
Area of leased space | ft²				8,300
Fazoli Holdings, LLC | Offices
Area of leased space | ft²				19,200
Native Wings | Offices
Area of leased space | ft²				5,825
SBN FCCG LLC
Payment for legal settlement	$ 100,000
Litigation reserve				$ 500,000
SBN FCCG LLC | Fog Cutter Capital Group Inc
Settlement awarded to other party	600,000
Payment for legal settlement	$ 100,000
Litigation reserve				$ 5,120,000
GAC Supply, LLC | Manufacturing and Production Facility
Area of leased space | ft²				40,000
Minimum
Damages sought				$ 12,000,000
Maximum
Damages sought				$ 22,000,000
New York | SBN FCCG LLC | Fog Cutter Capital Group Inc
Settlement awarded to other party			$ 700,000
Settlement interest			200,000
Canada | SBN FCCG LLC | Fog Cutter Capital Group Inc
Settlement awarded to other party		$ 700,000	700,000
Settlement interest		$ 12,411	$ 700,000

Geographic Information and Ma_3

Geographic Information and Major Franchisees - Schedule of Revenues by Geographic Area (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2021	Dec. 27, 2020
Total revenues	$ 118,881	$ 18,118
United States
Total revenues	108,643	14,146
Other countries
Total revenues	$ 10,238	$ 3,972

Schedule II - Valuation and Q_2

Schedule II - Valuation and Qualifying Accounts (Details) - Trade notes and accounts receivable $ in Thousands	12 Months Ended
	Dec. 26, 2021USD ($)
Balance at Beginning of Period	$ 1,113
Charged to Costs and Expenses	1,843
Deductions/ Recoveries/Acquisitions	1,460
Balance at End of Period	$ 4,416