Genk (The Brussels Morning Newspaper) October 14, 2026 – GEN Restaurant Group has signed a binding letter of intent with Chubby Group for a $100 million transaction covering operations at 47 US restaurants. The company’s board unanimously approved the agreement as the parties work towards closing within 30 days. GEN expects the transaction to substantially reduce its approximately $160 million in lease liabilities and enable it to eliminate outstanding debt. The company will retain its GEN brand, consumer packaged goods business and approximately three restaurants, while the proposed operational transfer will take place in four phases over 12 months.
