Fatburger, Twin Peaks latest chains to declare bankruptcy

Fat Brands, the parent company of Fatburger, and Twin Hospitality, the parent company of Twin Peaks, both have filed for Chapter 11 bankruptcy.

Neither company expects any of its restaurants to close while they restructure heavy debt burdens.

Fat Brands operates more than 2,200 restaurants. In addition to Fatburger, it operates 17 other brands, including Johnny Rockets, Round Table Pizza, Fazoli’s, and Smokey Bones.

Twin Hospitality was owned by Fat Brands, but was spun off last year.

Hooters and On the Border declared bankruptcy last year, and Red Lobster, TGI Fridays, and Buca di Beppo did so in 2024.