Market Update: We break down the business implications, market impact, and expert insights related to Market Update: Twin Peaks, Fazoli’s parent company files bankruptcy. Are OKC stores affected? – Full Analysis.
Take walk through 23rd Street OKC, see colorful dining and music scene
The stretch in Oklahoma City’s historic uptown district is home to the Tower Theater and various local-favorite bars.
The parent company of Twin Peaks, Great American Cookie, Marble Slab Creamery and Fazoli’s has filed for Chapter 11 bankruptcy, citing debt and aggressive acquisitions. However, Oklahoma’s locations look like they may remain open amid the proceedings.
The four businesses are under the FAT Brands and Twin Hospitality Group Inc., among several other brands. The bankruptcy was filed in the Southern District of Texas’ U.S. Bankruptcy Court.
“Twin Hospitality plans to use the filings to deleverage the balance sheet, maximize value for its stakeholders, and support the continued growth of its brands,” a statement reads on the Twin Peaks website.
Twin Hospitality and FAT Brands CEO Andy Widerhorn said the Chapter 11 process will allow the business to strengthen the balance sheet and create more financial flexibility.
“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. 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,” Widerhorn said.
All restaurants are expected to remain open and operating during the bankruptcy.
Fat Brands OKC locations
Several of FAT Brands’ businesses are located in Oklahoma City, including the following locations:
Twin Peaks Oklahoma City locations
- Twin Peaks West Oklahoma City, 6500 SW 3rd St.
- Twin Peaks North Oklahoma City, 3109 W Memorial Rd.
Fazoli’s Oklahoma City locations
- NW Expressway, 6821 Northwest Expressway
Marble Slab Creamery Oklahoma City locations
- Bricktown, 216 Johnny Bench Dr
Great American Cookie Oklahoma City locations
- Quail Springs Mall, 2501 W Memorial Rd
- Penn Square Mall, 1901 Northwest Expressway
- OKC Outlets, 7624 W Reno Ave