Twin Peaks Parent Company Files for Chapter 11 Bankruptcy, Casting Uncertainty Over Florida Locations

JACKSONVILLE, Fla. — The casual dining sector faces another shakeup as Twin Hospitality Group, parent company of the Twin Peaks lodge-themed sports bar chain, has filed for Chapter 11 bankruptcy in a Texas court. The move comes less than a year after rival chain Hooters shuttered multiple Florida outlets, including a Jacksonville location, signaling persistent headwinds for the "breastaurant" segment.

The filing, submitted to the U.S. Bankruptcy Court for the Southern District of Texas on January 26, aims to facilitate a financial restructuring. In a statement, the company cited "difficult and largely unforeseen market conditions" as a primary driver. Despite the bankruptcy, corporate officials emphasize that all 114 corporate-owned Twin Peaks locations in the U.S. and Mexico—including the Jacksonville restaurant at 11892 Atlantic Blvd.—are expected to remain open for business as usual during the proceedings.

"Our focus is on ensuring a seamless experience for our guests and team members throughout this process," a company spokesperson said in a release.

The bankruptcy filing adds a layer of complexity to recent corporate maneuvers. Last November, Twin Hospitality Group announced a $47 million deal to acquire eight Florida Twin Peaks locations from franchisee DMD Ventures, which had itself filed for bankruptcy for two of its outlets earlier in 2025. It is now unclear if that acquisition will proceed as planned.

Furthermore, the chain's corporate structure has seen recent turbulence. Twin Peaks was formally separated from its ultimate parent, Fat Brands Inc., in January of last year, though Fat Brands retained a controlling 95% stake. Last week, Fat Brands' largest bondholder, 352 Capital, petitioned a court to seize those shares as collateral for unpaid debts, intertwining the fates of the two entities.

The Jacksonville location, which opened in September 2023, is one of 16 Twin Peaks restaurants in Florida. Its debut followed a broader strategy by Fat Brands to convert some acquired Smokey Bones barbecue sites into Twin Peaks outlets.

Local Reaction:

Michael Torres, 42, Sports Fan & Regular Patron: "It's a worry, for sure. This place became our go-to spot for game nights. The staff feels like family. I hope they can restructure and stick around—Jacksonville needs these kinds of social hubs."

David Chen, 38, Local Business Analyst: "This filing is less about a single location and more about the leveraged pressures on parent Fat Brands and the broader challenges facing thematic casual dining. High debt loads and shifting consumer tastes are creating a perfect storm."

Rebecca Sharpe, 55, Community Advocate: "Frankly, I'm not surprised. The entire 'breastaurant' model feels increasingly anachronistic. While I sympathize with the employees, perhaps this is a moment for the industry to evolve toward more inclusive concepts that don't rely on dated gender tropes."

Carlos Mendez, 29, Bartender at a Competing Venue: "It's tough out here. Everyone's feeling the pinch with inflation. But this bankruptcy might mean more customers looking for other options. We have to stay sharp and offer real value."

The path forward for Twin Peaks will be charted in bankruptcy court, with the future of its Florida footprint hanging in the balance. For now, the company assures patrons that the beers are still cold and the screens are still on.

Doris Alvarez is a Breaking and Trending Reporter for The Florida Times-Union. Sign up for the free Dining Notes newsletter for the latest Jacksonville restaurant news at jacksonville.com/newsletters.