{"schema_version":"secwatch.filing_event.v1","accession":"0001618755-25-000048","form_type":"8-K","ticker":"RSTRF","cik":"0001618755","company_name":"Restaurant Brands International Limited Partnership","filed_at":"2025-11-10T23:59:59+00:00","discovered_at":"2026-05-14T18:02:39.939019+00:00","generated_at":"2026-05-16T22:24:58.633479+00:00","sec_items":["2.06","8.01","7.01","9.01"],"event_type":"other_material","sentiment":"neutral","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"RBI and CPE announce Burger King China JV; CPE invests $350M, RBI retains 17%, takes $150M impairment","bullets":["CPE to invest $350M new primary capital into Burger King China JV, owning ~83%; RBI retains ~17% and a board seat.","RBI will record a non-cash impairment charge of approximately $150M on its Burger King China holdings.","Joint venture aims to expand Burger King China from ~1,250 restaurants to over 4,000 by 2035; target to double in 5 years.","Transaction expected to close in Q1 2026, subject to regulatory approvals; RBI will start recognizing royalties post-close.","RBI will not receive any cash proceeds; capital remains in JV to support growth."],"urls":{"canonical":"https://secwatch.observer/filing/0001618755-25-000048","json":"https://secwatch.observer/filing/0001618755-25-000048.json","markdown":"https://secwatch.observer/filing/0001618755-25-000048.md","text":"https://secwatch.observer/filing/0001618755-25-000048.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1618755/000161875525000048/0001618755-25-000048-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1618755/000161875525000048/qsr-20251107.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-16T22:24:58.633479+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"e6502f114b7b662fac6af2397f2e13a04ed058cb","claim":"Restaurant Brands International Limited Partnership announced a impairment with charges of approximately $150 million affecting Burger King China.","evidence_excerpt":"the Company has determined that it will be required under generally accepted accounting principles to take a non-cash charge of approximately $150 million on its Burger King China holdings.","evidence_source":"SEC 8-K Item 2.05/2.06","evidence_url":"https://www.sec.gov/Archives/edgar/data/1618755/000161875525000048/0001618755-25-000048-index.htm","confidence":0.9}],"comparable_filings":[{"accession":"0001628280-26-015454","ticker":"WAL","company_name":"WESTERN ALLIANCE BANCORPORATION","filed_at":"2026-03-06T23:59:59+00:00","headline":"Western Alliance records $126.4M impairment on LAM loan default; files lawsuit","event_type":"other_material","sec_items":["2.06","7.01","9.01"],"materiality_score":0.75,"calibrated_materiality_score":0.75,"match_reasons":["same fact type: restructuring_charge","same SEC item: 2.06, 7.01, 9.01","same event type: other_material","similar materiality"],"urls":{"canonical":"https://secwatch.observer/filing/0001628280-26-015454","json":"https://secwatch.observer/filing/0001628280-26-015454.json","markdown":"https://secwatch.observer/filing/0001628280-26-015454.md","edgar_index":"https://www.sec.gov/Archives/edgar/data/1212545/000162828026015454/0001628280-26-015454-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1212545/000162828026015454/wal-20260302.htm"},"side_by_side_evidence":{"fact_type":"restructuring_charge","source_excerpt":"the Company has determined that it will be required under generally accepted accounting principles to take a non-cash charge of approximately $150 million on its Burger King China holdings.","source_evidence_url":"https://www.sec.gov/Archives/edgar/data/1618755/000161875525000048/0001618755-25-000048-index.htm","comparable_excerpt":"On March 2, 2026, the Company concluded that a material charge for impairment would result from notification of this breach of contract. The outstanding balance on this loan is $126.4 million. Based on currently available information, the non-cash impairment charge associated with this facility, which will be recognized in the first quarter of 2026, will be $126.4 million.","comparable_evidence_url":"https://www.sec.gov/Archives/edgar/data/1212545/000162828026015454/0001628280-26-015454-index.htm"}},{"accession":"0001539497-26-000812","ticker":"BCAB","company_name":"BioAtla, Inc.","filed_at":"2026-03-02T23:59:59+00:00","headline":"BioAtla initiates strategic review, cuts 70% workforce; CFO replaced; cash ~$7.1M","event_type":"other_material","sec_items":["2.02","7.01","2.05","5.02","8.01","9.01"],"materiality_score":0.85,"calibrated_materiality_score":0.85,"match_reasons":["same fact type: restructuring_charge","same SEC item: 7.01, 8.01, 9.01","same event type: other_material","similar materiality"],"urls":{"canonical":"https://secwatch.observer/filing/0001539497-26-000812","json":"https://secwatch.observer/filing/0001539497-26-000812.json","markdown":"https://secwatch.observer/filing/0001539497-26-000812.md","edgar_index":"https://www.sec.gov/Archives/edgar/data/1826892/000153949726000812/0001539497-26-000812-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1826892/000153949726000812/n5620_8k.htm"},"side_by_side_evidence":{"fact_type":"restructuring_charge","source_excerpt":"the Company has determined that it will be required under generally accepted accounting principles to take a non-cash charge of approximately $150 million on its Burger King China holdings.","source_evidence_url":"https://www.sec.gov/Archives/edgar/data/1618755/000161875525000048/0001618755-25-000048-index.htm","comparable_excerpt":"formal process to explore and evaluate strategic options to maximize\nshareholder value. The total cash payments related to this\nworkforce reduction are estimated to be between $0.5 and $0.6 million related to employee severance and benefit costs. The Company\nexpects to pay for the majority of these costs in the first quarter of 2026. The estimates of the","comparable_evidence_url":"https://www.sec.gov/Archives/edgar/data/1826892/000153949726000812/0001539497-26-000812-index.htm"}},{"accession":"0000037996-25-000238","ticker":"F","company_name":"FORD MOTOR CO","filed_at":"2025-12-15T23:59:59+00:00","headline":"Ford records ~$19.5B in special items, cancels EVs, ends F-150 Lightning, launches battery storage","event_type":"other_material","sec_items":["2.06","7.01","9.01"],"materiality_score":0.85,"calibrated_materiality_score":0.85,"match_reasons":["same fact type: restructuring_charge","same SEC item: 2.06, 7.01, 9.01","same event type: other_material","similar materiality"],"urls":{"canonical":"https://secwatch.observer/filing/0000037996-25-000238","json":"https://secwatch.observer/filing/0000037996-25-000238.json","markdown":"https://secwatch.observer/filing/0000037996-25-000238.md","edgar_index":"https://www.sec.gov/Archives/edgar/data/37996/000003799625000238/0000037996-25-000238-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/37996/000003799625000238/f-20251209.htm"},"side_by_side_evidence":{"fact_type":"restructuring_charge","source_excerpt":"the Company has determined that it will be required under generally accepted accounting principles to take a non-cash charge of approximately $150 million on its Burger King China holdings.","source_evidence_url":"https://www.sec.gov/Archives/edgar/data/1618755/000161875525000048/0001618755-25-000048-index.htm","comparable_excerpt":"As a result, we concluded that our Ford Model e segment long-lived assets are impaired. In addition, we will write down certain other long-lived assets related to the canceled EVs. The aggregate expected pre-tax write-down is estimated to be about $8.5 billion, which will be recognized in the fourth quarter of 2025.","comparable_evidence_url":"https://www.sec.gov/Archives/edgar/data/37996/000003799625000238/0000037996-25-000238-index.htm"}},{"accession":"0001437749-25-036765","ticker":"BELFA","company_name":"BEL FUSE INC /NJ","filed_at":"2025-12-03T23:59:59+00:00","headline":"Bel Fuse expects ~$14M pre-tax impairment in Q4 2025 on Innolectric investment after insolvency filing","event_type":"other_material","sec_items":["2.06","7.01","9.01"],"materiality_score":0.7,"calibrated_materiality_score":0.7,"match_reasons":["same fact type: restructuring_charge","same SEC item: 2.06, 7.01, 9.01","same event type: other_material","similar materiality"],"urls":{"canonical":"https://secwatch.observer/filing/0001437749-25-036765","json":"https://secwatch.observer/filing/0001437749-25-036765.json","markdown":"https://secwatch.observer/filing/0001437749-25-036765.md","edgar_index":"https://www.sec.gov/Archives/edgar/data/729580/000143774925036765/0001437749-25-036765-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/729580/000143774925036765/belfa20251201_8k.htm"},"side_by_side_evidence":{"fact_type":"restructuring_charge","source_excerpt":"the Company has determined that it will be required under generally accepted accounting principles to take a non-cash charge of approximately $150 million on its Burger King China holdings.","source_evidence_url":"https://www.sec.gov/Archives/edgar/data/1618755/000161875525000048/0001618755-25-000048-index.htm","comparable_excerpt":"sheet. As a result of these developments, based on currently available information and estimates, Bel anticipates recording a pre-tax impairment charge of up to approximately $14 million in the fourth quarter of 2025, representing the potential full loss of Bel’s Innolectric investment and notes receivable. The final amount of the impairment charge will be","comparable_evidence_url":"https://www.sec.gov/Archives/edgar/data/729580/000143774925036765/0001437749-25-036765-index.htm"}},{"accession":"0001104659-25-113746","ticker":"KR","company_name":"KROGER CO","filed_at":"2025-11-18T23:59:59+00:00","headline":"Kroger to close three automated fulfillment centers; expects $2.6B impairment charge in Q3 2025","event_type":"other_material","sec_items":["2.06","7.01","9.01"],"materiality_score":0.8,"calibrated_materiality_score":0.8,"match_reasons":["same fact type: restructuring_charge","same SEC item: 2.06, 7.01, 9.01","same event type: other_material","similar materiality"],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-25-113746","json":"https://secwatch.observer/filing/0001104659-25-113746.json","markdown":"https://secwatch.observer/filing/0001104659-25-113746.md","edgar_index":"https://www.sec.gov/Archives/edgar/data/56873/000110465925113746/0001104659-25-113746-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/56873/000110465925113746/tm2531591d1_8k.htm"},"side_by_side_evidence":{"fact_type":"restructuring_charge","source_excerpt":"the Company has determined that it will be required under generally accepted accounting principles to take a non-cash charge of approximately $150 million on its Burger King China holdings.","source_evidence_url":"https://www.sec.gov/Archives/edgar/data/1618755/000161875525000048/0001618755-25-000048-index.htm","comparable_excerpt":"On November 18, 2025, The Kroger Co. (“Kroger” or the “Company”) announced updates to its eCommerce plan. In connection with the foregoing, the Company will close certain fulfillment centers in the United States. The Company expects to incur impairment and related charges in the third fiscal quarter of 2025 of approximately $2.6 billion as a result of these closures and the rest of the automated fulfillment network not meeting financial expectations.","comparable_evidence_url":"https://www.sec.gov/Archives/edgar/data/56873/000110465925113746/0001104659-25-113746-index.htm"}},{"accession":"0001315257-26-000036","ticker":"KOP","company_name":"Koppers Holdings Inc.","filed_at":"2026-05-08T23:59:59+00:00","headline":"Koppers conditionally plans to shut Stickney, IL chemical operations; Q1 adjusted EPS down 19.7%","event_type":"other_material","sec_items":["2.02","2.05","5.02","5.07","7.01","9.01"],"materiality_score":0.85,"calibrated_materiality_score":0.85,"match_reasons":["same fact type: restructuring_charge","same SEC item: 7.01, 9.01","same event type: other_material","similar materiality"],"urls":{"canonical":"https://secwatch.observer/filing/0001315257-26-000036","json":"https://secwatch.observer/filing/0001315257-26-000036.json","markdown":"https://secwatch.observer/filing/0001315257-26-000036.md","edgar_index":"https://www.sec.gov/Archives/edgar/data/1315257/000131525726000036/0001315257-26-000036-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1315257/000131525726000036/kop-20260507.htm"},"side_by_side_evidence":{"fact_type":"restructuring_charge","source_excerpt":"the Company has determined that it will be required under generally accepted accounting principles to take a non-cash charge of approximately $150 million on its Burger King China holdings.","source_evidence_url":"https://www.sec.gov/Archives/edgar/data/1618755/000161875525000048/0001618755-25-000048-index.htm","comparable_excerpt":"potentially appropriate uses for the Stickney facility following the end of production activities. The Company expects this action to result in pre-tax charges to earnings of $227 million to $262 million through the end of 2029, approximately $170 million to $195 million of which constitutes non-cash charges and approximately $57 million to $67 million of which","comparable_evidence_url":"https://www.sec.gov/Archives/edgar/data/1315257/000131525726000036/0001315257-26-000036-index.htm"}},{"accession":"0001477333-26-000033","ticker":"NET","company_name":"Cloudflare, Inc.","filed_at":"2026-05-07T23:59:59+00:00","headline":"Cloudflare Q1 revenue $639.8M +34% YoY; announces 20% workforce reduction","event_type":"other_material","sec_items":["2.02","2.05","7.01","9.01"],"materiality_score":0.85,"calibrated_materiality_score":0.85,"match_reasons":["same fact type: restructuring_charge","same SEC item: 7.01, 9.01","same event type: other_material","similar materiality"],"urls":{"canonical":"https://secwatch.observer/filing/0001477333-26-000033","json":"https://secwatch.observer/filing/0001477333-26-000033.json","markdown":"https://secwatch.observer/filing/0001477333-26-000033.md","edgar_index":"https://www.sec.gov/Archives/edgar/data/1477333/000147733326000033/0001477333-26-000033-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1477333/000147733326000033/cloud-20260507.htm"},"side_by_side_evidence":{"fact_type":"restructuring_charge","source_excerpt":"the Company has determined that it will be required under generally accepted accounting principles to take a non-cash charge of approximately $150 million on its Burger King China holdings.","source_evidence_url":"https://www.sec.gov/Archives/edgar/data/1618755/000161875525000048/0001618755-25-000048-index.htm","comparable_excerpt":"On May 7, 2026, the Company announced a plan (the “Plan”) designed to further accelerate its evolution to an agentic AI-first operating model. As part of the Plan, the Company expects to reduce its current workforce by approximately 20%. The Company currently estimates that it will incur charges of between $140 million and $150 million in connection with the Plan","comparable_evidence_url":"https://www.sec.gov/Archives/edgar/data/1477333/000147733326000033/0001477333-26-000033-index.htm"}},{"accession":"0001193125-26-192362","ticker":"AUTL","company_name":"Autolus Therapeutics plc","filed_at":"2026-04-29T23:59:59+00:00","headline":"Autolus cuts workforce 13%; expects $8M restructuring charge, $15M annualized savings","event_type":"other_material","sec_items":["2.05","7.01","9.01"],"materiality_score":0.65,"calibrated_materiality_score":0.65,"match_reasons":["same fact type: restructuring_charge","same SEC item: 7.01, 9.01","same event type: other_material","similar materiality"],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-26-192362","json":"https://secwatch.observer/filing/0001193125-26-192362.json","markdown":"https://secwatch.observer/filing/0001193125-26-192362.md","edgar_index":"https://www.sec.gov/Archives/edgar/data/1730463/000119312526192362/0001193125-26-192362-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1730463/000119312526192362/d113906d8k.htm"},"side_by_side_evidence":{"fact_type":"restructuring_charge","source_excerpt":"the Company has determined that it will be required under generally accepted accounting principles to take a non-cash charge of approximately $150 million on its Burger King China holdings.","source_evidence_url":"https://www.sec.gov/Archives/edgar/data/1618755/000161875525000048/0001618755-25-000048-index.htm","comparable_excerpt":"Item 2.05 Costs Associated with Exit or Disposal Activities. On April 29, 2026, Autolus Therapeutics plc (the “Company”) announced its Board of Directors approved a plan to improve operational efficiency and reduce operating expenses. This plan will implement a reduction in force whereby the Company will eliminate approximately 13% of the Company’s workforce, inclusive of employee-related actions that began in the second half of 2025. The Company anticipates that it will complete the implementation of the plan by the third quarter of 2026. Affected employees will be offered separation benefits, including severance payments and, where applicable, temporary healthcare coverage assistance. The Company estimates that it will incur total expenses relating to the realignment of approximately $8 million, consisting of severance and termination-related costs. The Company expects to record a significant portion of these charges in the first half of 2026.","comparable_evidence_url":"https://www.sec.gov/Archives/edgar/data/1730463/000119312526192362/0001193125-26-192362-index.htm"}}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}