Texas-Based Restaurant Chain Files For Bankruptcy

Trouble brewing for another popular restaurant group? The parent company of Twin Peaks Restaurant announced on Monday that it had filed for Chapter 11 bankruptcy. The move comes months after Fat Brands, the parent company of Twin Hospitality Group began converting other restaurants into Twin Peaks locations.

Twin Peaks Files For Chapter 11, What Does That Mean?

According to USA Today, Twins Hospitality Group filed for Chapter 11 on Monday, January 26 in the U.S. Bankruptcy Court for the Southern District of Texas. USA Today reports that while brands like Twin Peaks remains strong, market conditions have been difficult according to Fat Brands Inc, the parent company of Twin Hospitality Group. USA Today reports that these market conditions has created challenges in restructuring debt.

Will Any Texas Locations of Twin Peaks Close?

There are 114 Twin Peaks locations and according to USA Today, no locations in Texas or throughout the United States are expected to close.

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And that's a good thing because they legitimately have really good food and really cold beer. The location here in Lubbock is a franchise and is run very well, and I can tell you I've never had a bad meal or bad drink at Twin Peaks in Lubbock.

So this does sound like more of a debt restructuring plan than having to change anything with the restaurants themselves.