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Financing

Chipotle reports record-breaking third quarter sales

The fast casual said same-store sales increased 15.1% during the third quarter, with revenue climbing 21.9% to $2 billion.

Financing

Portillo’s aims high with IPO at $20 per share

The 67-unit fast casual, with a menu of regional Chicago fare like hot dogs and Italian Beef sandwiches, will offer more than 20 million shares for sale starting Thursday.

The 67-unit fast casual, known for its Italian Beef sandwiches, ended its first day on the market with its share price at $29.10, up 45.5% from its starting price. It raised more than $405 million from the IPO.

A group called Save Casa Bonita has filed an objection to the proposed sale, offering to pay $3.5 million for the Mexican restaurant/tourist attraction.

The undisclosed investment by Great Plains Capital LLC will be used to speed up growth plans at the quick-service pizza chain.

Fresh Acquisitions, whose assets were just sold to Famous Dave’s owner, is being accused of misappropriating $20 million before it filed for bankruptcy, including $4 million in Paycheck Protection Program funds.

The 14-unit chain, which launched just 14 months ago, operates micro cafes and coffee carts in New York City.

The fast casual revealed Tuesday it intends to sell more than 20 million shares at between $17 and $20 each when it goes public October 21.

Executives from the better burger brand, which announced a deal to purchase the casual-dining chain for $161.3 million this week, said they intend to turn a pared-down, fast-casual Anthony’s prototype into a growth vehicle.

Led by multiple deals from Fat Brands and from BBQ Holdings, concept collectors have been busy this year.

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