Not to be confused with the band, nor the cult-classic TV series, Twin Peaks is a Texas-based sports bar and restaurant franchise primarily known for its scantily-clad staff, American portions, and lodge atmosphere. Founded in the Dallas suburb of Lewisville in 2005, Twin Peaks has since franchised with over 100 locations across the United States and Mexico – 30% of which are concentrated in Texas.
Recently, its parent company Twin Hospitality Group has filed for bankruptcy. Continue reading below to find more about what that means for its presence in Houston.
On January 26, Twin Peaks’ parent company, Twin Hospitality Group filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Southern District of Texas.
Twin Peaks is a subsidiary of Fat Brands, the parent company of other franchises that include Fazoli’s, Fatburger, and Great American Cookies. In 2024, Fat Brands spun off Twin Peaks and its other concept Smokey Bones into a separate company called Twin Hospitality Group – though still under the umbrella of Fat Brands. That same year, the company converted numerous Smokey Bones locations into Twin Peaks restaurants – which continued up until a few months ago.
Between 2020 and 2021, Fat Brands accumulated a significant amount of debt totaling $1.4 billion. Amid company restructuring, the company missed financial payments over the years before trustees demanded the full $1.26 billion.
Just days before the company filed bankruptcy, 352 Capital (its largest bondholder) filed a lawsuit against them, demanding the dining chain as collateral for unpaid debt .
Despite underperformance from other Fat Brands concepts, the company maintains that Twin Peaks locations are profitable. Furthermore, the company expects that all 114 Twin Peaks restaurants will remain open during the Chapter 11 process. NASDAQ trading of Twin Hospitality Group will also continue though with an attached “Q” suffix.
Here’s what Twin Hospitality Group CEO, Andy Widerhorn, had to say:
The chapter 11 process will enable us to strengthen our balance sheet and create financial flexibility to advance this growth. 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.
Twin Peaks has three locations in the Houston area located at:
- 4527 Lomitas St.
- 12830 Northwest Fwy.
- 11335 Katy Fwy.