Twin Hospitality Group Inc., the parent company of Twin Peaks and Smokey Bones, has filed for Chapter 11 bankruptcy protection. The move comes just months after the parent company of Twin Peaks and Smokey Bones announced nationwide expansion plans and a leadership change in December 2025.
Inside Twin Hospitality Group’s Chapter 11 Filing
According to PACER records, Twin Hospitality Group Inc. made its voluntary filing in the U.S. Bankruptcy Court for the Southern District of Texas. The Chapter 11 petition was filed on January 26, 2026.
Court records note that Twin Hospitality Group Inc. will continue filing required periodic reports (example 10K and 10Q), with the Securities and Exchange Commission, as required under Securities Exchange Act of 1934.
More than 150 affiliated entities have also filed for Chapter 11 and are seeking consolidated proceedings, according to court records. These include Fat Brands Inc., Barbeque Integrated, Inc., Fazoli’s Holdings, LLC, and Johnny Rockets Holding Company.
Twin Hospitality Group Inc. is moving forward with a Chapter 11 process to restructure its debt obligations, an official press release states. The company said the restructuring is intended to support continued growth across its brands while maximizing value for stakeholders.
What the Filing Means for Restaurants and Investors
The company said Twin Peaks and Smokey Bones locations will remain open and continue serving guests nationwide during the restructuring.
The company’s securities will also continue trading on NASDAQ. A ‘Q’ suffix will be added during the period to reflect the bankruptcy status of Twin Hospitality Group Inc.
Andy Wiederhorn, the CEO of Twin Hospitality, said that the Chapter 11 process will allow the parent company to strengthen its balance sheet and create financial flexibility to accelerate the global expansion of sports bar chain Twin Peaks.
“We plan to use this process to connect with key stakeholders around a value-maximizing plan and will act prudently to remain steadfast in upholding and protecting stakeholder interests. Our focus in this process remains providing quality service to our customers and supporting our franchise partners and the thousands of corporate and franchise employees,” Wiederhorn stated.
Leadership Change and Expansion Precede Bankruptcy
Twin Hospitality Group Inc. announced plans to acquire eight Twin Peaks franchised restaurants in Florida from DMD Ventures, LLC on November 17, 2025. The transaction was based on a letter of intent for around $47 million in cash. The involved locations include Davie, Hollywood, Fort Myers, Doral, Pembroke Pines, Naples, West Palm Beach, and Cypress Creek.
Twin Hospitality Group Inc. was hoping that the Florida acquisition would yield nearly $9-$10 million in additional annual EBITDA and $76-$77 million in annual revenue.
Days after this, the Twin Peaks Restaurant owner signed a new area development agreement for expanding to Connecticut. Along with the debut outlet in the state, the parent entity had development rights for three future lodges across Hartford, New Haven, Danbury, Waterbury, Stamford-Bridgeport.
On December 22, 2025, Twin Peaks announced plans to open a new Omaha location on February 2, 2026. Developed by Wichita-based 3B Lodge, the project indicates the parent company’s continued expansion in the Midwest market.
Right after this, Andy Wiederhorn was announced as the Chief Executive Officer of the restaurant franchisor on December 29, 2025. The company also announced the appointment of Roger Gondek, then Chief Operating Officer, as President of Twin Peaks Restaurant. Gondek’s COO responsibilities would continue as usual.
Company Background
Twin Hospitality Group Inc. develops and operates multiple casual dining restaurant concepts worldwide. The restaurant franchisor and operator aim to improve the casual dining category with its subsidiary brands, such as Twin Peaks and Smokey Bones.
Twin Peaks has been offering a sports lodge dining experience since its inception in 2005 in the Dallas suburb of Lewisville. As of now, the subsidiary of Twin Hospitality Group Inc. has 115 locations spanning 27 U.S. states and Mexico. The brand is known for its sports lodge atmosphere, Twin Peaks Girls servers, 29-degree draft beer, and scratch-made menu items.
Another Twin Hospitality Group Inc. subsidiary, Smokey Bones, offers barbecue and cocktail offerings for guests throughout the day and late night.
Case Details
Court filings show that Latham & Watkins LLP is serving as legal counsel to Twin Hospitality Group Inc. in the case. Other involved parties include GLC Advisors & Co., LLC as the investment banker and Huron Consulting Services LLC as the financial advisor.
Attorney Timothy A. (“Tad”) Davidson II of Hunton Andrews Kurth LLP is legally representing Twin Hospitality Group Inc. in the court. The filing details further mention that Omni Agent Solutions, Inc. is serving as the claims, noticing, and solicitation agent in the case.
More information related to the Chapter 11 case of Twin Hospitality Group Inc. is here:
- Filing Date: January 26, 2026
- Court and Jurisdiction: U.S. Bankruptcy Court for the Southern District of Texas
- Type of Filing: Active, Voluntary Petition
- Chapter: 11
- Case Number: 26-90127
- Estimated Assets: $1,000,000,001-$10 billion
- Estimated Liabilities: $1,000,000,001-$10 billion
- Reason for Filing: Deleverage balance sheet, support subsidiary brands, maximize value for stakeholders
As of now, Twin Hospitality Group Inc. owes roughly between 1,000 and 5,000 creditors in total. The filing details say that funds will be available for distribution to unsecured creditors.
Among the documents submitted by Twin Hospitality Group Inc. include a corporate ownership statement, list of equity security holders, and unanimous written consent of the authorizing bodies of Fat Brands Inc., Twin Hospitality Group Inc., and their respective subsidiaries.
As the Chapter 11 process moves forward, the company said it aims to preserve the guest experience across its Twin Peaks and Smokey Bones locations.
