The Brief
- Twin Peaks’ parent company filed for Chapter 11 bankruptcy on Monday to restructure debt, just one year after the brand went public.
- All 114 restaurant locations are expected to remain open and continue normal operations throughout the legal proceedings.
- The restructuring aims to reduce the company’s debt load, though it is currently unknown how the filing will impact long-term shareholder value.
ADDISON, Texas – The Dallas-based parent company of Twin Peaks, Twin Hospitality Group Inc., has filed for Chapter 11 bankruptcy protection as it works to restructure its debt and strengthen its financial position.
What we know:
In a news release on Monday, Twin Peaks Restaurant announced it has initiated voluntary Chapter 11 proceedings in the U.S. Bankruptcy Court for the Southern District of Texas.…