As January came to a close, mounting financial pressure pushed several major companies across industries into bankruptcy. Popular companies, including fast-casual franchising operator FAT Brands Inc., global spirits brand Stoli Group (USA), and freight logistics giant STG Logistics, Inc., filed for bankruptcy during the month.
Financial Strain Sparks Cross-Industry Bankruptcy Filings in January
Just weeks into 2026, financial strain is already reshaping multiple industries. Here are six notable companies that filed for bankruptcy amid ongoing financial pressure.
STG Logistics, Inc.
Ohio-based freight logistics company STG Logistics, which operates more than 60 locations, filed for Chapter 11 together with certain of its affiliates and subsidiaries. Geoff Anderman, the CEO of STG Logistics, described the Chapter 11 filing as a crucial step amid ‘one of the most severe freight recessions in history.’
The filing was intended to remove around 91% of its debt and equip STG Logistics, Inc. with approximately $150 million in new capital.
Against this backdrop, the Ohio-based port-to-door service provider stated that it had reached a Restructuring Support Agreement (RSA) with its sponsors and creditors who have the required majority of its funded debt. To implement the RSA, certain affiliates and subsidiaries of STG Logistics, Inc. entered into a ‘prearranged financial restructuring process’ under Chapter 11.
- Filing Date: January 12, 2026
Stoli Group, USA
Global spirits brand Stoli Group recently made headlines when its two U.S. subsidiaries requested to convert their Chapter 11 proceedings into a Chapter 7 liquidation process. Stoli Group (USA), LLC, and Kentucky Owl LLC filed for a Chapter 11 process in November 2024.
Prompted by a failed reorganization attempt, the U.S. subsidiaries decided to switch to Chapter 7 bankruptcy by filing an emergency motion.
The conversion from Chapter 11 to Chapter 7 is set to impact the operations of Stoli Group USA, LLC, and Kentucky Owl LLC only. The filing applies only to the two U.S. subsidiaries; Stoli Group’s other domestic and international operations are not affected.
- Filing Date: January 14, 2026 (emergency motion for filing conversion)
Twin Hospitality Group Inc.
Twin Hospitality Group Inc. filed for Chapter 11 months after acquiring eight Twin Peaks franchised restaurants in Florida from DMD Ventures, LLC. The parent operator of fast casual brands Twin Peaks and Smokey Bones had also revealed plans to expand across Connecticut and Omaha prior to the filing.
In addition, Twin Hospitality Group Inc. faced a leadership change in December 2025 when Andy Wiederhorn was announced as the Chief Executive Officer and Roger Gondek as the President.
Along with the parent entity, 150 affiliated companies had submitted their Chapter 11 petition and requested a consolidated proceeding.
- Filing Date: January 26, 2026
FAT Brands Inc.
FAT Brands Inc., a major fast-casual franchisor, filed for bankruptcy amid declining revenue and sales. In its third fiscal quarter ended September 28, 2025, FAT Brands Inc.’s total revenue declined 2.3% year over year to $140.0 million from $143.4 million. FAT Brands Inc.’s sales also came down by 5.5%.
Through a voluntary Chapter 11 filing, the franchise giant sought to curb debt and strengthen its balance sheet while supporting subsidiary entities and stakeholders.
More than 180 affiliated entities of FAT Brands Inc. had also entered into the Chapter 11 restructuring process. These entities include Bonanza Restaurant Company LLC, Round Table Pizza, Inc., and MaggieMoo’s Franchising, LLC. The subsidiaries requested the court to consolidate the cases and administer them jointly with the parent company.
- Filing Date: January 26, 2026
Pretium Packaging, L.L.C.
Founded in the 1990s, sustainable packaging manufacturer Pretium Packaging, L.L.C. filed for Chapter 11 to reorganize its business. For the same, Pretium Packaging, L.L.C. reached a pre-packaged restructuring agreement with creditors and its equity sponsor, Clearlake Capital Group.
Through a pre-packaged bankruptcy, the U.S.-based designer and manufacturer hoped to strengthen its balance sheet by potentially reducing the debt by more than $900 million and providing over $175 million in liquidity.
James Rooney, the CEO of the packaging manufacturer, hinted that through a restructured and lower-leverage capital structure, the company could invest in its products, customer relationships, and workforce. With this, the manufacturer was expecting to grow despite industry challenges.
- Filing Date: January 28, 2026
Multi-Color Corporation
The global label solutions provider with more than 100 years of history sought a pre-packaged Chapter 11 bankruptcy protection to reduce its funded debt and improve its financial structure. Multi-Color Corporation (MCC) had entered a restructuring support agreement with its major secured lenders to emerge successfully through bankruptcy.
The packaging company entered into the RSA with holders of around 72% of its secured first-lien debt. Clayton, Dubilier and Rice (CD&R) is the equity sponsor in the process.
Through the intended restructuring, MCC is hoping to reduce net debt levels from $5.9 billion to around $2.0 billion. In addition, the annual cash interest expenses are projected to fall to around $140 million in 2026. The packaging company must submit its Chapter 11 plan by May 29.
- Filing Date: January 29, 2026
As these cases move through the courts in the coming months, their outcomes will offer a clearer picture of how different industries are adapting to ongoing economic pressure in 2026.
