Twin Hospitality Group Inc., the parent behind Twin Peaks, Smokey Bones, Fatburger, Johnny Rockets, Fazoli’s, Round Table Pizza, and more than 150 affiliated entities, filed for Chapter 11 on January 26, 2026, in the Southern District of Texas. Restaurants are expected to remain open and operating during the restructuring as the company works to deleverage its balance sheet.
Because the filing includes many store level LLCs that directly hold leases, landlords may see impacts such as requests for lease modifications, evaluation of underperforming stores, or eventual lease assumptions or rejections. The petition indicates funds will be available for unsecured creditors, signaling a restructuring rather than liquidation.
Given the complexity and scale of this case, we strongly recommend that landlords work with Husch Blackwell’s insolvency and real estate teams to review notices, protect lease rights, and ensure timely responses throughout the bankruptcy process. We will continue monitoring developments and provide further updates.
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