The parent company of Twin Peaks, the sports bar famous for its scenic views and Hooters-esque aesthetic, has officially gone bust, filing for bankruptcy.
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According to The Dallas Morning News, Dallas-based Twin Hospitality Group filed for Chapter 11 bankruptcy on Monday following a series of corporate setbacks. The outlet reports that the company struggled with declining sales, a sharp drop in stock price, and frequent turnover in key leadership roles.
“We are confident that the brand remains positioned for meaningful global expansion in the years to come,” Andy Wiederhorn, CEO of Twin Hospitality, explained in a statement per The Dallas Morning News.
“The Chapter 11 process will enable us to strengthen our balance sheet and create financial flexibility to advance this growth,” Wiederhorn added.
According to the press release, all Twin Peaks locations are expected to remain open during this process.
According to USA Today, the bankruptcy filing follows Fat Brands’ ( the parent company of Twin Hospitality Group) recent efforts to convert Smokey Bones barbecue locations into Twin Peaks. Fat Brands, which also owns Fatburger, Great American Cookies, and Fazoli’s, acquired Smokey Bones in 2023. Since then, the parent company has shuttered several sites while rebranding others. By September 2025, 15 Smokey Bones locations had permanently closed.
Breastaurant-Themed Sports Bars Are Seemingly in a Slump
Twin Hospitality launched on the stock market last January, but its share price quickly fell from over $20 to under $9 within a month. By December, the stock was trading for just cents on the dollar.
It seems the business of “breastaurants” is hitting a slump. In March 2025, Hooters filed for Chapter 11 bankruptcy, attempting to offload $376 million in debt by selling company-owned spots to franchisees. By June, over 30 locations had permanently lowered their wings.
With over 110 locations in the U.S. and Mexico, Twin Peaks bills itself as the “ultimate sports lodge.” Of course, it’s not the mountain views customers are coming for. According to the company, every guest is “welcomed by a friendly Twin Peaks Girl.”