FAT Brands and Twin Hospitality Close Additional Smokey Bones Locations Amid Chapter 11 Bankruptcy

Smokey Bones BBQ chain has shut down 14 more locations amid its parent company FAT Brands' Chapter 11 bankruptcy. FAT Brands had previously decided to allocate resources to its Twin Peaks sports bar concept instead of Smokey Bones, leading to the closure of 15 underperforming Smokey Bones locations in September. The decision was made to eliminate inefficiencies and refocus on high-return initiatives. FAT Brands filed for Chapter 11 bankruptcy on January 26 and reported assets and liabilities in the $1 billion-$10 billion range.