San Antonio, January 29, 2026
Twin Peaks, the well-known ‘breastaurant’ chain based in Texas, has filed for Chapter 11 bankruptcy protection to reorganize its financial obligations. The filing, made by Twin Hospitality Group, reports assets and liabilities estimated between $1 billion and $10 billion. Despite the filing, all restaurant locations will remain operational and employees will continue to receive compensation during the restructuring. This decision reflects broader trends within the casual dining industry, amidst increasing competition and changing consumer preferences.
San Antonio, Texas – Twin Peaks Files for Chapter 11 Bankruptcy
San Antonio, Texas – Twin Peaks, the Texas-based “breastaurant” chain, has filed for Chapter 11 bankruptcy protection, initiating a restructuring process to address its financial obligations. The filing was made on January 26, 2026, in the Southern District of Texas. Twin Peaks’ parent company, Twin Hospitality Group, reported assets and liabilities ranging between $1 billion and $10 billion. Despite the bankruptcy filing, the company has stated that its restaurants will remain operational, and staff will continue to be compensated during the restructuring period.
Background of Twin Peaks
Founded in 2005 in Lewisville, Texas, Twin Peaks has grown to operate 114 locations nationwide, including four in San Antonio. The chain is known for its sports bar ambiance and waitstaff attire, which has led to its classification as a “breastaurant.” In 2024, Twin Peaks went public with an estimated valuation of $1 billion. However, the company has faced challenges, including the resignation of CEO Joe Hummel and Chief Legal Officer Clay Mingus in March 2025, shortly after the IPO. These departures were attributed to the executives pursuing other opportunities. The bankruptcy filing marks a significant development in the company’s financial trajectory, prompting questions about its future operations and potential impact on the San Antonio market.
Industry Context
The bankruptcy filing of Twin Peaks aligns with a broader trend in the “breastaurant” industry. In March 2025, Hooters of America, another prominent chain in this sector, filed for Chapter 11 bankruptcy protection. This move was part of a strategic shift towards a more family-friendly image, including rebranding efforts and changes to staff uniforms. The challenges faced by these chains highlight the evolving dynamics within the casual dining industry and the need for adaptation to changing consumer preferences and economic conditions.
Frequently Asked Questions (FAQ)
What is Chapter 11 bankruptcy?
Chapter 11 bankruptcy is a legal process that allows a company to reorganize its debts and operations under court supervision, enabling it to continue business activities while restructuring financial obligations.
Will Twin Peaks restaurants remain open during the bankruptcy process?
Yes, Twin Peaks has stated that its restaurants will remain operational, and staff will continue to be compensated during the restructuring period.
How many Twin Peaks locations are there in San Antonio?
There are four Twin Peaks locations in San Antonio.
What led to the bankruptcy filing of Twin Peaks?
The bankruptcy filing is part of Twin Peaks’ efforts to address its financial obligations, with assets and liabilities reported between $1 billion and $10 billion. Specific details regarding the causes of the financial challenges have not been publicly disclosed.
How does this bankruptcy filing compare to other “breastaurant” chains?
The bankruptcy filing of Twin Peaks aligns with a broader trend in the “breastaurant” industry, including the March 2025 Chapter 11 bankruptcy filing of Hooters of America, which is also part of a strategic shift towards a more family-friendly image.
Key Features of the Article
| Feature | Description |
|---|---|
| Company Name | Twin Peaks |
| Parent Company | Twin Hospitality Group |
| Bankruptcy Filing Date | January 26, 2026 |
| Bankruptcy Chapter | Chapter 11 |
| Assets and Liabilities | $1 billion to $10 billion |
| Number of Locations Nationwide | 114 |
| Number of Locations in San Antonio | 4 |
| Year of IPO | 2024 |
| Valuation at IPO | $1 billion |
| Resignations of CEO and CLO | March 2025 |
| Industry Trend | Bankruptcy filings in “breastaurant” industry |
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Author: STAFF HERE SAN ANTONIO WRITER
The SAN ANTONIO STAFF WRITER represents the experienced team at HERESanAntonio.com, your go-to source for actionable local news and information in San Antonio, Bexar County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as Fiesta San Antonio, San Antonio Stock Show & Rodeo, and Dia de los Muertos. Our coverage extends to key organizations like the Greater San Antonio Chamber of Commerce and United Way of San Antonio and Bexar County, plus leading businesses in retail, insurance, and energy that power the local economy such as H-E-B, USAA, and Valero Energy. As part of the broader HERE network, including HEREAustinTX.com, HERECollegeStation.com, HEREDallas.com, and HEREHouston.com, we provide comprehensive, credible insights into Texas's dynamic landscape.
