GEN Restaurant signs LOI to sell 47 restaurants to Chubby for up to $100M; Q3 revenue falls 3.3%

GEN Restaurant Group, Inc.

Signed binding LOI to sell 47 U.S. GEN Korean BBQ restaurants to Chubby Group for up to $100M; GEN keeps the brand, CPG business and Cerritos restaurant; definitive agreements pending.
Q3 2026 revenue $48.7M, down 3.3% YoY; restaurant revenue $44.0M (-12.7%) on a 9.2% comparable-sales decline; net loss $5.5M ($0.16/share).
CPG revenue was $4.7M versus none a year ago; retail distribution exceeds 2,000 doors, adding 14 Bristol Farms, 55 Vallarta Supermarkets, UCLA Dining and SoFi Stadium.
Loss from operations was $6.0M (12.4% of revenue) vs $3.7M; adjusted EBITDA loss $0.6M; G&A fell 15.3% to $5.5M.
Cash was $2.9M at Sept. 30; total debt $26.8M vs $14.6M at Dec. 31, 2025; GEN expects Chubby payments to eliminate outstanding debt.

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