Twin Hospitality Group Inc., the parent company of Twin Peaks Restaurant, has filed for voluntary chapter 11 proceedings in the U.S. Bankruptcy Court for the Southern District of Texas to deleverage the balance sheet and support brand growth. Twin Peaks and Smokey Bones are expected to remain open and operate as usual during the process. The company’s securities will continue trading on NASDAQ with a “Q” suffix. Latham & Watkins LLP is serving as legal counsel, GLC Advisors & Co., LLC as an investment banker, and Huron Consulting Services LLC as a financial advisor.

Twin Peaks, founded in 2005, is known for its sports lodge experience with made-from-scratch food and a vast beer selection. Smokey Bones, the ‘Masters of Meat,’ offers barbecue, award-winning ribs, cocktails, and operates full-service restaurants. The bankruptcy court filings and claims information can be found on Omni Agent Solutions, Inc.’s website. Forward-looking statements in the company’s Form 8-K highlight the potential impact of the chapter 11 proceedings on Twin Hospitality’s operations and stakeholders.

Read more at GlobeNewswire: Twin Hospitality Group Files Voluntary Chapter 11 Petitions