Twin Peaks parent company files for bankruptcy

Will Michigan locations close as the restaurant chain seeks to restructure?

Jan. 29, 2026 at 11:23am

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Twin Hospitality Group, the parent company of the Twin Peaks restaurant chain, has filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the Southern District of Texas. The company, which operates 114 corporate locations in the U.S. and Mexico, cited difficult and largely unforeseen market conditions in recent years as the reason for the bankruptcy filing.

Why it matters

The bankruptcy filing comes just a year after Hooters shuttered several locations, indicating continued challenges in the sports bar and restaurant industry. The fate of Twin Peaks' Michigan locations, operated by Ansara Restaurant Group, remains uncertain as the company seeks to restructure.

The details

Twin Peaks opened its first location in Lewisville, Texas in 2005. The bankruptcy filing comes a few months after Fat Brands, the parent company of Twin Hospitality Group, began converting some Smokey Bones barbecue restaurants into Twin Peaks locations. In March 2025, Hooters also filed for Chapter 11 bankruptcy, leading to the closure of more than 30 locations.

  • Twin Peaks filed for Chapter 11 bankruptcy on January 26, 2026.
  • In March 2025, Hooters filed for Chapter 11 bankruptcy.
  • In June 2025, more than 30 Hooters locations closed.

The players

Twin Hospitality Group

The parent company of the Twin Peaks restaurant chain, which filed for Chapter 11 bankruptcy.

Fat Brands Inc.

The parent company of Twin Hospitality Group and other restaurant brands like Fatburger, Great American Cookies, and Fazoli's.

Ansara Restaurant Group

The operator of the three Twin Peaks restaurants in Michigan and one in Toledo, Ohio, as well as 22 Red Robins, Burgerz, 2Booli, and Daily Jam restaurants.

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What’s next

The fate of Twin Peaks' Michigan locations, operated by Ansara Restaurant Group, remains uncertain as the company seeks to restructure through the bankruptcy process.

The takeaway

The bankruptcy filing by the parent company of Twin Peaks highlights the continued challenges facing the sports bar and restaurant industry, with Hooters also filing for bankruptcy and closing locations just a year prior. The restructuring of Twin Peaks could have implications for its Michigan operations and the broader landscape of dining options in the state.