Twin Hospitality Group Inc. (TWNPQ): going-concern / distress — Twin Hospitality files Chapter 11 with $403M debt; appoints restructuring directors and CRO

of default under certain of the Debtors’ debt instruments, including, without limitation, the following debt instruments issued by subsidiaries of the Company: ● approximately $403 million in aggregate outstanding amount of Twin Hospitality I, LLC’s Secured Notes (excluding notes retained by FAT Brands) pursuant to that certain Base Indenture, dated November 21,

November 21, 2024 (the “ Twin Indenture ”) as amended and restated from time-to-time, between Twin Hospitality I, LLC and UMB Bank, National Association; and ● approximately $4 million in aggregate outstanding amount pursuant to those certain Equipment Financing Agreements, each as amended and restated from time-to-time, among various subsidiaries of Twin

On January 26, 2026 (the " Petition Date "), Twin Hospitality Group Inc. (" we ", " us " or the " Company ") and each of its direct and indirect subsidiaries, along with its parent company, FAT Brands Inc. (" FAT Brands ") and each of FAT Brands’ other direct and indirect subsidiaries (collectively, the " Debtors "), commenced voluntary cases (the " Chapter 11 Cases ") under chapter 11 of title 11 of the United States Code (the " Bankruptcy Code ") in the United States Bankruptcy Court for the Southern District of Texas (the " Bankruptcy Court ").