Dallas, January 28, 2026
Twin Hospitality Group, the parent company of Twin Peaks, has filed for Chapter 11 bankruptcy protection in Dallas to address declining sales and leadership changes. With the intent to restructure, the company aims to stabilize its financial position while continuing operations at its restaurants. Despite recent losses, Twin Hospitality is confident that this move will provide an opportunity for growth in the challenging casual dining market.
Twin Hospitality Group Files for Chapter 11 Bankruptcy in Dallas
Sports Bar Chain Seeks Restructuring Amid Declining Sales and Leadership Changes
Dallas, Texas – In a significant move for the local business landscape, Twin Hospitality Group Inc., the parent company of the Dallas-based sports bar chain Twin Peaks, has filed for Chapter 11 bankruptcy protection. This filing, initiated on January 26, 2026, aims to address declining sales and a series of leadership changes while seeking to stabilize its financial position and continue operations.
The decision to enter Chapter 11 bankruptcy comes as the company strives to improve its balance sheet and support the growth of its brands, including Twin Peaks and Smokey Bones. As part of this restructuring effort, operations for both brands are expected to proceed as usual, ensuring guests continue to receive their favored dining experiences. Trading of Twin Hospitality Group’s securities on NASDAQ is set to continue with a “Q” suffix throughout the proceedings.
Company Overview and Recent Challenges
Founded in 2005, Twin Peaks has expanded to over 110 locations across the United States and Mexico, offering a unique sports lodge dining experience characterized by made-from-scratch food and a wide selection of cold beers. Despite its growth, the company has confronted significant challenges recently, including a reported 4% decline in same-store sales during the third quarter of 2025 and escalating operational losses. The company’s financial struggles were exacerbated by the resignation of CEO Joe Hummel in April 2025, leading to interim leadership until Andy Wiederhorn was appointed CEO in December 2025.
Financial Performance and Strategic Decisions
The bankruptcy filing follows a series of strategic initiatives by Twin Hospitality Group, including plans announced in November 2025 to acquire eight franchised Twin Peaks restaurants in Florida for approximately $47 million in cash. This acquisition was projected to contribute an additional $76-$77 million in annual revenue and increase annual EBITDA by $9-$10 million. However, the company’s financial difficulties were highlighted by a net loss of $58.2 million in the fiscal third quarter of 2025, compared to a loss of $44.8 million for the same period the previous year.
Looking Ahead: Restructuring for Growth
As Twin Hospitality Group embarks on its Chapter 11 journey, the focus will be on stabilizing operations and negotiating with creditors. The company aims to emerge from bankruptcy with a strengthened financial foundation, which is crucial for the future of Twin Peaks and Smokey Bones in an ever-evolving casual dining market. This restructuring presents an opportunity not just for survival but for potential growth, aligning with Dallas’s entrepreneurial spirit.
Conclusion and Community Engagement
While the bankruptcy filing represents a significant hurdle for Twin Hospitality Group, it also underscores the resilience of local entrepreneurs in navigating difficult economic landscapes. As consumers, we can support our local businesses by continuing to patronize establishments like Twin Peaks and Smokey Bones. Staying engaged in Dallas’s economic future means backing those who bring innovation and vitality to our neighborhoods.
Frequently Asked Questions (FAQ)
What is Chapter 11 bankruptcy?
Chapter 11 bankruptcy is a legal process that allows a company to reorganize its debts and operations under court supervision, aiming to return to profitability while continuing business activities.
Will Twin Peaks continue to operate during the bankruptcy proceedings?
Yes, Twin Peaks and Smokey Bones are expected to remain open and operate as usual during the Chapter 11 process, continuing to deliver their signature guest experiences.
What led to Twin Hospitality Group’s bankruptcy filing?
The bankruptcy filing was prompted by declining sales, increased operational losses, and leadership changes, which impacted the company’s financial stability.
How many Twin Peaks locations are there?
As of now, Twin Peaks operates over 110 locations across the United States and Mexico.
What is the future of Twin Peaks and Smokey Bones?
The future of Twin Peaks and Smokey Bones will depend on the successful execution of the company’s restructuring plan and its ability to adapt to the evolving casual dining market.
Key Features of the Article
| Feature | Details |
|---|---|
| Bankruptcy Filing | Twin Hospitality Group Inc. filed for Chapter 11 bankruptcy protection on January 26, 2026, in the U.S. Bankruptcy Court for the Southern District of Texas. |
| Company Operations | During the bankruptcy proceedings, Twin Peaks and Smokey Bones are expected to remain open and operate as usual, delivering their signature guest experiences. |
| Financial Performance | The company reported a net loss of $58.2 million in the fiscal third quarter of 2025, compared to a loss of $44.8 million in the same period the previous year. |
| Leadership Changes | CEO Joe Hummel stepped down in April 2025, with interim leadership until Andy Wiederhorn was appointed CEO in December 2025. |
| Strategic Moves | In November 2025, the company announced plans to acquire eight Twin Peaks franchised restaurants in Florida for approximately $47 million in cash, expected to contribute an additional $76-$77 million in annual revenue and $9-$10 million in annual EBITDA. |
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