Financing

Star investors lend upstarts a halo of success

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Reality Check: A letter mailed to shareholders Monday repeats a detailed inventory of the investor's alleged faults as a business leader.

The owner of Fatburger and Johnny Rockets filed a registration statement with the SEC to spin off 5% of shares in Twin Peaks to existing shareholders. The casual-dining chain will become an independent, publicly traded company.

The casual-dining chain blamed COVID-19 and its capital structure for its financial troubles. Its restaurants will continue operating as it works to restructure.

The fast-casual grilled-chicken chain launches a $5 Taco Tuesday promotion to spark trial after traffic plummets 7.6% in third quarter.