California restaurant signs 100M deal

GEN Restaurant Group plans to sell its 47 restaurant locations across the United States to Chubby Group in a $100 million deal, which is expected to close within 30 days pending regulatory approval. The sale will help GEN reduce its lease liabilities and eliminate debt, while the company shifts its focus to its Korean packaged-food business. Chubby Group, known for its all-you-can-eat wagyu chains, will introduce a more wagyu-centered menu while retaining some GEN branding and operations.

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