BT Brands, Inc.

BT Brands, Inc. operates in the food service industry, owning and operating restaurants and holding a minority interest in an unconsolidated affiliate that also operates restaurants. As of December 28, 2025, the company directly owned and operated nine restaurants across the Midwest, Massachusetts, and Florida. These include six Burger Time fast-food restaurants located in the North Central region of the United States, Keegan's Seafood Grille, a casual seafood restaurant in Indian Rocks Beach, Florida, Pie In The Sky Coffee, a coffee shop and bakery in Woods Hole, Massachusetts, and Schnitzel Haus, a German-themed fine dining restaurant and bar in Hobe Sound, Florida. A Burger Time in Sioux Falls, South Dakota, closed in 2024, another in Ham Lake, Minnesota, closed at the end of 2024, and a Minot, North Dakota, location closed in July 2025. Additionally, Village Bier Garten in Cocoa, Florida, ceased operations in January 2025. BT Brands also holds a 40.7% interest in Bagger Dave's Burger Tavern, Inc. (BDVB), an unconsolidated affiliate that operates five casual-dining restaurants in Michigan, Ohio, and Indiana, bringing the total operating restaurant locations to 14. The company utilizes a centralized management structure to achieve company-wide efficiencies.