Twin Hospitality files Chapter 11 with $403M debt; appoints restructuring directors and CRO

Twin Hospitality Group Inc.

Filed voluntary Chapter 11 petitions on Jan 26, 2026, with parent FAT Brands and subsidiaries; operations continue as usual.
Outstanding debt includes ~$403M Twin Hospitality Secured Notes and ~$4M equipment financing; defaults triggered by filing.
Board expanded to six; appointed Patrick Bartels and Neal Goldman as independent restructuring directors to oversee restructuring.
Appointed John DiDonato (Huron) as Chief Restructuring Officer and Abhimanyu Gupta as Deputy CRO to lead the process.
Company warns common shareholders may face complete or significant loss; NASDAQ trading to continue with Q suffix.

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