Twin Hospitality Group appoints Andy Wiederhorn as CEO

Core Insights - Twin Hospitality, which operates Twin Peaks and Smokey Bones, is experiencing growing losses and declining same-store sales and revenue in Q3, despite ongoing restaurant openings and franchise agreements [2] - The company closed 15 underperforming Smokey Bones locations last year and plans to convert 19 of those units to Twin Peaks, which are expected to perform better [2] Leadership Changes - Wiederhorn, who has been on Twin Hospitality's board since last August, will work with leadership to create sustainable growth and improve operations; he previously served as CEO of Fat Brands and resumed his position after a federal investigation [3] - Roger Gondek, the current COO of Twin Peaks, will also take on the role of president, bringing over 15 years of experience with the brand [4] Strategic Focus - The company aims to drive key business initiatives, including streamlining operations and enhancing the guest experience, while restructuring debt and minimizing overhead to provide additional value [5]