Core Viewpoint - Twin Hospitality Group Inc. has initiated voluntary chapter 11 proceedings to restructure its balance sheet and enhance stakeholder value while continuing operations of its restaurant brands [1][2][3] Company Overview - Twin Hospitality Group Inc. operates specialty casual dining concepts, including Twin Peaks and Smokey Bones, aiming to redefine the casual dining experience [2][5] - Twin Peaks, founded in 2005, has 114 locations across the U.S. and Mexico, known for its sports bar atmosphere and diverse menu [6] - Smokey Bones specializes in barbecue and offers a full-service dining experience with a variety of beverages [7] Chapter 11 Proceedings - The chapter 11 process is expected to allow Twin Hospitality to strengthen its financial position and create flexibility for future growth [3] - The company plans to maintain normal operations during the bankruptcy process, ensuring continued service to customers and support for franchise partners and employees [2][3] - Legal and financial advisors have been appointed to assist in the restructuring process, including Latham & Watkins LLP as legal counsel and GLC Advisors & Co., LLC as investment banker [4]