On August 15, 2003, Fog Cutter Capital Group Inc. completed a $6 million investment and financing package for Fatburger Holdings, Inc. (“Fatburger”). Fatburger operates or franchises 51 hamburger stands located in California, Nevada, Arizona and Washington. The company has plans to open an additional 124 restaurants in those same states plus expansion into Oregon, Louisiana, Colorado, Georgia, Ohio, New Jersey, Florida, and Michigan. Known for their cook to order gourmet hamburgers, the 50's-style restaurants also offer a variety of side orders and other sandwiches, including turkey and chicken. Franchisees own and operate about half of the company's locations. In 1952, Lovie Yancey opened the first Fatburger stand in Los Angeles when "fat" was used as slang for "good." There are more than 500 employees working at various company owned and franchise locations.
Fog Cutter’s investment and financing package for Fatburger included the purchase of common stock and redeemable preferred stock.