Latest news with #SmokeyBones
Business Upturn
29-07-2025
- Business
- Business Upturn
Twin Hospitality Group Inc. Announces Second Quarter 2025 Financial Results on July 30, 2025
DALLAS, July 28, 2025 (GLOBE NEWSWIRE) — Twin Hospitality Group Inc. ('Twin Hospitality') (NASDAQ: TWNP), the operating unit for the Twin Peaks and Smokey Bones restaurant brands, today announced that the Company will host a conference call to review its second quarter 2025 financial results on Wednesday, July 30, 2025 at 5:15 PM ET. A press release with second quarter 2025 financial results will be issued prior to the conference call that day. The conference call can be accessed live over the phone by dialing 1-877-407-0792 from the U.S. or 1-201-689-8263 internationally. A replay will be available after the call until Wednesday, August 13, 2025, and can be accessed by dialing 1-844-512-2921 from the U.S. or 1-412-317-6671 internationally. The passcode is 13754155. Hosting the call will be Kim Boerema, Chief Executive Officer, and Ken Kuick, Chief Financial Officer. The conference call will also be webcast live from the corporate website at under the 'Investors' section. A replay of the webcast will be available through the corporate website shortly after the call has concluded. About Twin Hospitality Group Inc. Twin Hospitality Group Inc. (NASDAQ: TWNP) is a restaurant company that strategically develops and operates and franchises specialty casual dining restaurant concepts with a goal to redefine the casual dining category with its experiential driven brands, Twin Peaks and Smokey Bones. Twin Peaks, known as the ultimate sports lodge, is an award-winning restaurant and sports bar brand with 114 locations across 27 states and Mexico and is known for its made-from-scratch food, 29 degree draft beer, innovative cocktail program and sports on wall-to-wall televisions. Smokey Bones is a full-service, meat-centric restaurant brand and concept with 51 locations, across 16 states specializing in ribs and a variety of other slow-smoked, fire-grilled and seared meats, along with a full bar. For more information, please visit Investor Relations: ICR [email protected]
Yahoo
29-06-2025
- Business
- Yahoo
Dozens of Smokey Bones restaurants will be rebranded. Which locations are being impacted?
FAT Brands Inc., the global company behind dozens of iconic food chains like Fazoli's and Fatburger, is shifting business models for Smokey Bones, a barbecue favorite with locations all across the country. Here's what you need to know. Under the new company, underperforming locations will close, and half of all Smokey Bones will be transitioned into a whole new restaurant: Twin Peaks. With over 2,300 franchise stores across 40 countries, FAT Brands purchased the barbecue bar and grill for $30 million from Sun Capital Partners private equity in 2023. Right at the start of 2025, FAT Brands created Twin Hospitality Group, the operating unit for its Twin Peaks and Smokey Bones brands. Proceeds from the IPO will help pay down debt at the parent company, which owns 95% of Twin Hospitality shares. In return, the sports bars will focus on opening more locations with the funding received. Twin Peaks is a growing brand in the United States, filling a niche left by the gone-with-the-wind Hooters. 'Converting Smokey Bones locations to Twin Peaks provides a significant return on investment as altering a standing restaurant with similar square footage and real estate draw like Smokey Bones cuts out about a year and a half of construction time,' Ken Kuick, FAT Brands co-CEO and chief financial officer, said in a statement. 'Twin Peaks is our fastest-growing concept, producing strong and growing average-unit volumes.' Restaurant closings: Hooters closes over 30 restaurants suddenly, company calls it 'difficult decision' According to statistics from a 2024 earnings call, Twin Peak's profits were four times higher in margins compared to the barbeque joint, causing a split in shifting the underperforming locations to more profits. The company announced in March nine underperforming locations would close. Those locations have not been announced. With nine restaurants closing, it leaves 45 stores available to be rebranded. Of the 45, 30 of the Smokey Bones restaurants will be rebranded over time, the company said in an initial statement. Out of 54 locations, nine will close. The 45 will then be reduced again, as 30 of the remaining will be rebranded to Twin Peaks restaurants over time, the company said in an initial statement. The first Smokey Bones to transition was the location in Lakeland, Florida in late 2024 according to reporting from National Restaurant News. In the end, Smokey Bones will downsize to just 15 locations left. At the brand's highest point, Smokey Bones had over 100 locations nationwide. The company has yet to reveal which Smokey Bones locations will close or convert to the Twin Peaks brand. Twin Peaks is similar to Hooters. Restaurants offer cold drinks, American meals and large portions. Think of a casual sports bar with… Twin Peaks on display. Following in the same vein as Hooters' popularity in the 90's and 2000's, the dining spot offers cold drinks, American meals and large portions. According to the Twin Peaks location tracker, there are 109 locations across the United States. The company plans in the short term to open at least 11 new locations by the end of 2025, and cap at 650 locations across the U.S. in the distant future. It appears that communication has been limited regarding which location is the next on the chopping block. Even employees at several locations seem to be left in the dark. 'When (Fat Brands) first bought us they sent out a handful of people to check out our restaurant and were in and out within five to ten minutes,' an employee said at the Springfield, Illinois location. 'That was well over half a year ago, and we haven't heard anything since.' Calls to confirm the status of the restaurant to the general manager were not responded to as of June 25. Claire Grant writes about business, growth and development and other news topics for The State Journal-Register. She can be reached at CLGrant@ and on X (Formerly known as Twitter): @Claire_Granted This article originally appeared on State Journal-Register: Dozens of Smokey Bones restaurants will be rebranded. What we know
USA Today
29-06-2025
- Business
- USA Today
Dozens of Smokey Bones restaurants will be rebranded. Which locations are being impacted?
FAT Brands Inc., the global company behind dozens of iconic food chains like Fazoli's and Fatburger, is shifting business models for Smokey Bones, a barbecue favorite with locations all across the country. Here's what you need to know. What will the rebranding be? Under the new company, underperforming locations will close, and half of all Smokey Bones will be transitioned into a whole new restaurant: Twin Peaks. When did FAT Brands buy Smokey Bones? With over 2,300 franchise stores across 40 countries, FAT Brands purchased the barbecue bar and grill for $30 million from Sun Capital Partners private equity in 2023. Right at the start of 2025, FAT Brands created Twin Hospitality Group, the operating unit for its Twin Peaks and Smokey Bones brands. Proceeds from the IPO will help pay down debt at the parent company, which owns 95% of Twin Hospitality shares. In return, the sports bars will focus on opening more locations with the funding received. Filling a void Twin Peaks is a growing brand in the United States, filling a niche left by the gone-with-the-wind Hooters. 'Converting Smokey Bones locations to Twin Peaks provides a significant return on investment as altering a standing restaurant with similar square footage and real estate draw like Smokey Bones cuts out about a year and a half of construction time,' Ken Kuick, FAT Brands co-CEO and chief financial officer, said in a statement. 'Twin Peaks is our fastest-growing concept, producing strong and growing average-unit volumes.' According to statistics from a 2024 earnings call, Twin Peak's profits were four times higher in margins compared to the barbeque joint, causing a split in shifting the underperforming locations to more profits. How many locations will close? The company announced in March nine underperforming locations would close. Those locations have not been announced. How many locations will be rebranded? With nine restaurants closing, it leaves 45 stores available to be rebranded. Of the 45, 30 of the Smokey Bones restaurants will be rebranded over time, the company said in an initial statement. Out of 54 locations, nine will close. The 45 will then be reduced again, as 30 of the remaining will be rebranded to Twin Peaks restaurants over time, the company said in an initial statement. The first Smokey Bones to transition was the location in Lakeland, Florida in late 2024 according to reporting from National Restaurant News. How many Smokey Bones locations will be left? In the end, Smokey Bones will downsize to just 15 locations left. At the brand's highest point, Smokey Bones had over 100 locations nationwide. The company has yet to reveal which Smokey Bones locations will close or convert to the Twin Peaks brand. What is Twin Peaks? Twin Peaks is similar to Hooters. Restaurants offer cold drinks, American meals and large portions. Think of a casual sports bar with… Twin Peaks on display. Following in the same vein as Hooters' popularity in the 90's and 2000's, the dining spot offers cold drinks, American meals and large portions. According to the Twin Peaks location tracker, there are 109 locations across the United States. The company plans in the short term to open at least 11 new locations by the end of 2025, and cap at 650 locations across the U.S. in the distant future. Which location is the next to close? It appears that communication has been limited regarding which location is the next on the chopping block. Even employees at several locations seem to be left in the dark. 'When (Fat Brands) first bought us they sent out a handful of people to check out our restaurant and were in and out within five to ten minutes,' an employee said at the Springfield, Illinois location. 'That was well over half a year ago, and we haven't heard anything since.' Calls to confirm the status of the restaurant to the general manager were not responded to as of June 25. Claire Grant writes about business, growth and development and other news topics for The State Journal-Register. She can be reached at CLGrant@ and on X (Formerly known as Twitter): @Claire_Granted
Daily Mail
24-06-2025
- Business
- Daily Mail
TGI Fridays rival follows chain into mass closures as BBQ joints collapse across the country
Smokey Bones BBQ is inching closer to a full shutdown after announcing another round of mass closures. The TGI Fridays rival is shuttering nine restaurants this year, reducing its footprint to around 45 locations. That number is expected to shrink further in the coming years as more sites are converted into Twin Peaks sports bar-style restaurants. Once a rising star in casual dining, Smokey Bones launched in 1999 under Darden Restaurants, the company behind Olive Garden. At its peak, it boasted more than 130 locations nationwide. But the brand has struggled since its parent company acquired Twin Peaks in 2021. TGI Fridays had already been suffering financial downfall before the Smokey Bones' decline, ultimately filing for bankruptcy last year. Like Smokey Bones, the chain has undergone mass closures, with only 200 US locations remaining open. Its owners are continuing to keep a close eye on it, and revealed that it's 'very possible' for more Smokey Bones restaurants to shutter. Smokey Bones explained it has three specialties: Good food, good drinks, and good times. The chain began hopping around different owners after Darden decided to sell it to Barbeque Integrated, Inc., a company affiliated with Sun Capital Partners, Inc. The $80 million acquisition agreement was finalized in 2007, and by 2010, the 68-unit chain was undergoing a multi-million dollar redesign in all locations. Unfortunately, Sun Capital Partners, Inc. became financially unstable over the years due to owning struggling chains like Friendly's and two-time bankruptcy filer Bar Louie's. The company sold the chain to Fat Brands for $30 million in 2023, and are busy working on the restaurant transformations. 'We still plan to convert about half of Smokey Bones' locations to Twin Peaks over the next several years. We will then keep 20 or so locations as Smokey Bones with nine locations closing due to factors such as the lease expiring or the trade area,' a spokesperson told 'As we have shared previously, we are committed to growing Smokey Bones and see great potential for the brand as the only BBQ concept in our portfolio. Our first priority is completing the conversions and then we will execute on our growth strategy.' While Fat Brands has mapped out what it believes is a solid plan, the company suffered a sales dive during this year's first quarter, with its total revenue declining by 6.5 percent. There has been a habit of once-thriving restaurant chains going downhill over the last few years. Darden shuttered 15 Bahama Breeze restaurants following low profits and is exploring the idea of selling off the remaining locations. Hooters abruptly shuttered 30 restaurants this month after filing for bankruptcy protection, and Hogan's Real American Beer has reportedly been interested in purchasing the chain's intellectual property. Other chains that have filed for bankruptcy this year include Planta, Hwy 55 Burgers, Shakes & Fries, and On The Border Mexican Grill & Cantina.
Miami Herald
22-06-2025
- Business
- Miami Herald
BBQ chain closes restaurants, changes focus from ribs to breasts
Fat Brands has become a shockingly large restaurant operator despite owning numbers brands with names that sound like eateries in a "Simpsons" episode or a Kevin Smith movie. The company started with Fatburger in 2003 before buying the also pretty literally named Buffalo's Cafe in 2011. From the burger and wing chain, it added the iconic (and perhaps outdated) Ponderosa and Bonanza Steakhouse chains in 2017, then added another wings concept, Hurricane Wings and Grill, in 2018. Related: Struggling restaurant chain likely to shut down or be sold Over the next few years the company bought Elevation Burger, Johnny Rockets, and Global Franchise Group which includes many names that don't sound real including Round Table Pizza, Great American Cookies, Marble Slab Creamery, Pretzlemaker, and Hot Dog on a Stick. That last deal gave Fat Brands a massive presence in malls. In 2021, however, the company entered that fast-casual space with purchase of Twin Peaks, a bar and restaurant chain that sort of a classier take on the model pioneered by Hooters. The company also picked up the Smokey Bones barbecue chain in 2023 from Darden Brands and, at the time, it was excited about the deal. Don't miss the move: Subscribe to TheStreet's free daily newsletter "We continue to be selective and opportunistic in our acquisition strategy, targeting brands that are both scalable and synergistic with our existing platform," said Rob Rosen, Co-CEO of Fat Brands said at the time. "We are pleased to add another polished dining brand, which will provide more options for our sales team to offer our franchise partners to further their new unit development." Image source: Shutterstock While the Fat Brands and Smokey Bones relationship started well, it took a turn for the worse earlier this year. The barbecue chain's owner shared some bad news for fans of the casual, sit-down barbecue brand. Fat Brands Chairman Andy Wiederhorn explained that the company often buys brands to use them to enhance a company they already own. "Our recent transactions have been highly strategic, creating multiple avenues for value creation. A prime example is our acquisition of Nestle Toll House Cafe by Chip about three years ago. This transaction was particularly compelling as it allowed us to convert these units to Great American Cookies locations, effectively growing our cookie footprint while simultaneously increasing production volume at our manufacturing facility," he said during the company's fourth-quarter earnings call. Wiederhorn views the Smokey Bones acquisition as a similar opportunity although that was not mentioned when the brand was purchased in 2023. More Food and Retail: Another healthy fast-food chain files Chapter 11 bankruptcyCostco quietly pulls popular product, upsets fansStarbucks brings back fan-favorite menu item after 2-year hiatus "We bought Smokey Bones in late 2023 to help fuel Twin Peaks' growth, which will allow us to convert about 30 of the Smokey Bones locations into Twin Peaks. This dual benefit illustrates our approach to acquisitions. We look for opportunities that not only expand our restaurant portfolio, but also drive incremental value through our manufacturing capabilities, essentially getting two bites at the apple," Fat Brands also shared during its earnings call that 30 of the remaining 58 Smokey Bones locations will be rebranded as Twin Peaks. Another nine Smokey Bones locations will close. While Fat Brands will maintain a roughly 85% stake in the new company, it has actually spun off Twin Peaks and the remains of the Smokey Bones chain into its own company. "Twin Hospitality now trades separately on the NASDAQ under the ticker TWNP. The public listing of Twin Hospitality creates an opportunity for shareholders to directly participate in the growth and success of the Twin Peaks brand. This strategic move enhances transparency and enables the market to better appreciate the distinct value of Twin Peaks," Wiederhorn said. Twin Peaks is a sports bar/breastaurant model where the waitresses wear low-cut outfits. The new company's executives also commented on the Smokey Bones conversions. "Our flexible real estate model has proven highly successful in converting legacy restaurants into Twin Peaks. These conversions enable faster time to market, lower buildout costs and accelerated return on investment," said CFO Ken Kuick.. Some of the conversions have already come online. "We have also made progress with our strategic plans to convert Smokey Bones into Twin Peaks. Our first Twin Peaks conversion, which opened in Lakeland, Florida last September, is exceeding expectations, while our second Twin Peaks conversion in Brandon, Florida opened this month and is off to a strong start. We project completing two additional conversions in 2025." Related: Popular BBQ chain closes almost all locations, no bankruptcy That means that Smokey Bones fans still have time to enjoy a 1-pound slab of ribs or some of the chain's other favorites. Most of the nine locations that are fully closing have already been closed. One location, which closed in late-April in order to become a Twin Peaks, reminded customers to use any Smokey Bones coupons before their local location shut down. The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
