Twin Peaks, Smokey Bones parent company files for Chapter 11 bankruptcy

FAT Brands and Twin Hospitality Group Inc. announced the voluntary filing, saying restaurants will remain open during the process.

Jan. 28, 2026 at 7:47pm

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Twin Peaks' parent company FAT Brands and its affiliate Twin Hospitality Group Inc. have filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court in the Southern District of Texas. The company, which owns Twin Peaks and Smokey Bones restaurant chains, said it expects the casual dining restaurants to "remain open and operating as usual" during the filing process.

Why it matters

The bankruptcy filing comes a year after Twin Peaks' rival sports bar Hooters filed for bankruptcy and shuttered dozens of locations nationwide, signaling ongoing challenges in the casual dining industry. The move aims to strengthen FAT Brands' balance sheet and provide financial flexibility to advance the Twin Peaks brand's global expansion plans.

The details

FAT Brands and Twin Hospitality Group Inc. announced the voluntary Chapter 11 bankruptcy filing on Monday. CEO Andy Wiederhorn said the process will enable the company to "strengthen our balance sheet and create financial flexibility to advance this growth" for the Twin Peaks brand, which he said has "redefined the sports bar experience and built an iconic and highly profitable business."

  • The first court hearing for the bankruptcy case was on Wednesday.

The players

FAT Brands

The parent company that owns the Twin Peaks and Smokey Bones restaurant chains and has filed for Chapter 11 bankruptcy.

Twin Hospitality Group Inc.

An affiliate of FAT Brands that has also filed for Chapter 11 bankruptcy alongside the parent company.

Andy Wiederhorn

The CEO of Twin Hospitality Group Inc. who said the bankruptcy process will enable the company to strengthen its balance sheet and provide financial flexibility to advance the Twin Peaks brand's global expansion.

Hooters

A rival sports bar chain that filed for bankruptcy and shuttered dozens of locations nationwide a year prior, signaling ongoing challenges in the casual dining industry.

Twin Peaks

A sports bar chain founded in 2005 in the Dallas suburbs that is owned by FAT Brands and Twin Hospitality Group Inc. and operates 114 locations in the U.S. and Mexico.

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What they’re saying

“Twin Peaks has redefined the sports bar experience and built an iconic and highly profitable business. We are confident that the brand remains positioned for meaningful global expansion in the years to come.”

— Andy Wiederhorn, CEO of Twin Hospitality Group Inc. (News release)

“The chapter 11 process will enable us to strengthen our balance sheet and create financial flexibility to advance this growth.”

— Andy Wiederhorn, CEO of Twin Hospitality Group Inc. (News release)

“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.”

— Andy Wiederhorn, CEO of Twin Hospitality Group Inc. (News release)

What’s next

The first court hearing for the bankruptcy case was on Wednesday.

The takeaway

The bankruptcy filing by the parent company of Twin Peaks and Smokey Bones signals ongoing challenges in the casual dining industry, with the company aiming to use the Chapter 11 process to strengthen its balance sheet and provide financial flexibility to advance the Twin Peaks brand's global expansion plans.