I think there is some rule for US grocery store products they have to label them “Wyngz” instead of “Wings”. Restaurants seem to be allowed to call them whatever they want though.

I’m convinced they started doing this to sell more strategy guides or get people to call into the pay-per-minute tip lines. And now they keep doing it because it increases online engagement and gives people reasons to write wiki articles.

Brand is already dying anyways. I’m not sure what their place is in the current world; they don’t have the same kid appeal as McD or BK. They used to market the burgers but there’s newer chains with better fast food burgers now. I guess they’re still notable for chili and frosties? I don’t have high hopes for a hedge fund turning things around, but I think they do need to overhaul their image and find something to market that other fast food doesn’t do better.

Maybe I’m a goal anarchist, but I’d argue it’s still a gacha even if you gamble with fake money earned within the game.

They had to pay out over $100 million to some hedge fund/VC groups after losing a lawsuit about denying their use of stock warrants. This had been ongoing since 2022 but the final ruling was last quarter.

Also they took on another $100 million or so of debt in anticipation of the Shutterstock merger which fell through.

Combination of debt from the attempted Shutterstock acquisition and litigation from hedge funds/VC related to their initial public stock warrants.

From their 2nd quarter filings:

The Company’s liquidity position has been adversely affected by:

• ongoing Warrant Litigation, with the Company paying $110.9 million in judgment and associated interest in the second quarter of 2026 and carrying a remaining litigation reserve of approximately $99.5 million as of June 30, 2026. See “Note 11 - Legal Proceedings and Contingencies.”;

• significant costs incurred in relation to the recently terminated Merger (which was terminated by the Company on July 7, 2026), with the Company incurring approximately $60.4 million of legal, accounting and other direct costs through June 30, 2026; and

• high interest expense including net interest expense associated with the financing that was obtained in anticipation of the recently terminated Merger, with the Company incurring approximately $30.1 million of interest expense, net of interest earned on the escrowed funds through June 30, 2026, along with $13.5 million in associated financing fees.

Is that the famous bread and water soup?