It's difficult to describe the vibe of a Twin Peaks restaurant without mentioning the servers' uniforms, or lack of them.
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Sure, there's the cold beer, the good food, and the sports bar atmosphere. But it seems like every casual chain has that nowadays.
Twin Peaks isn't a tribute to the beloved (and bizarre) '90s television drama. What sets the casual restaurant chain apart from its competitors is its "scenic views." That means the scantily clad front-of-the-house staff is dressed in plaid push-up bras and Daisy Dukes with bare midriffs in between.
Why? Because anyone can serve you a beer. It just goes down easier when it's brought to you by an attentive waitress who knows how to get your attention.
But its Dallas-based parent company, Twin Hospitality Inc., faces some financial uncertainty. On Monday night, it filed for voluntary Chapter 11 bankruptcy. What does that mean for your upcoming Super Bowl watch party? We have the details below.
What Happened to Twin Peaks?
Twin Peaks was founded in 2005 in Lewisville, Texas. It now boasts 114 locations in the United States and Mexico.
This news comes at a time when the restaurant industry is facing higher operating costs, increased competition and slower consumer spending. The bankruptcy filing coincides with the news that Twin Hospitality Inc.'s parent company, FAT Brands, also filed for bankruptcy on Monday. The company owns several casual dining chains, including Johnny Rockets, Fatburger, and Fazoli's.
According to the Houston Chronicle, the decision was made after creditors had filed lawsuits against FAT Brands over unpaid loans.
"The Chapter 11 process will enable us to strengthen our balance sheet and create financial flexibility to advance this growth," said Twin Hospitality Inc. CEO Andy Wiederhorn in a statement. "We plan to use this process to connect with key stakeholders around a value-maximizing plan and will act prudently to remain steadfast in upholding and protecting stakeholder interests."
Will Twin Peaks Stay Open?
Both FAT Brands and Twin Hospitality Inc. say that their restaurants will remain open during the bankruptcy process. This means that your favorite venue for your fantasy football draft will remain open, for now.
Said Wiederhorn, "Our focus in this process remains providing quality service to our customers and supporting our franchise partners and the thousands of corporate and franchise employees."
