Fatburger's parent company goes for ‘mini-IPO’ geared to small investors
Will you take that with fries? FAT Brands, the parent company of Fatburger and Buffalo's Cafe announced that it is planning to raise $20 million from investors through a Regulation A+ initial public offering, also known as a mini-IPO, that will allow everyday investors to get in on the action. According to a report from Business Insider, Regulation A+, established by the SEC in 2015, is meant to make it easier for small companies to essentially crowdsource investment. Think of it like Kickstarter, the business news outlet said, except investors become real shareholders. And as part of the rules, there are fewer requirements and regulations for companies than if it were to do a full-fledged IPO.
“As we make the transition from a private company to a public one, we are delighted to position our restaurants so that our fans can now be part owners too,” said FAT Brands CEO Andy Wiederhorn in a statement. FAT Brands plans to list under the ticker "FAT." Fatburger and Buffalo’s Café together have more than 200 locations open and under development with an overall footprint in 18 countries. (BusinessWire)
Millennials are “styling” differently for the workplace
Millennials are changing business norms for office attire, according to a report from CNBC. Guy Voglino, VP of men's clothier Brooks Brothers, told the business news outlet that young people entering the workplace today are dressing more for a lifestyle fit than did older generations. They're "dressing to go from the office to dinner or a date. They're dressing for a very active lifestyle," Voglino said. One of the newest trends he's seeing is sneakers paired with suits. Voglino said this trend works as long as you're picking the proper shoe. "You're not wearing your regular gym sneakers," he said. "You're wearing a nice sneaker and still thinking the [shoe choice] through." Another big swing in styling? Stretch in clothing. Voglino notes that women have been wearing stretch in workplace attire for some time, but men are just now coming around to it. "Before it was pure wool or pure cotton," he said, but now denim and chinos with stretch are available. “Stretch is now well-received for men because it brings comfort to what they're wearing." For SMBs, the changes are not as major as they may be in larger companies—but it still may be time to consider changing that dress code. (CNBC)