In my years masking the restaurant trade, I’ve seen unbiased barbecue eating places draw strains earlier than midday, a transparent sign of high quality and buyer loyalty. These kitchens typically function with minimal infrastructure, but persistently ship the very best cuts earlier than closing time.
Nationwide chains are a distinct story. Whereas they will serve broader markets, operational choices, reminiscent of menu focus, location technique, and model administration, could make it tougher for them to seize the identical native ardour that unbiased spots get pleasure from.
FAT Manufacturers’ dealing with of Smokey Bones is a current instance of how strategic decisions reshape client choices.
Relating to FAT Manufacturers, the corporate has determined that “breasts beat ribs,” at the least when you think about how Twin Peaks servers gown.
It has opted to show lots of its Smokey Bones BBQ eating places into Twin Peaks areas whereas merely closing many others. That is a pattern that started in 2025, which has continued into the brand new yr.
Extra Smokey Bones areas shut
Smokey Bones was acquired as a 60-unit idea by FAT Manufacturers Inc. in 2023 and was subsequently spun off into Twin Hospitality in January 2025.
“Twin Hospitality has prioritized optimizing Smokey Bones’ footprint, identifying 19 restaurants for conversion into better-performing Twin Peaks lodges,” the corporate shared in a press launch.
Two of those conversions have already been accomplished and generate considerably larger common unit volumes (AUVs) of roughly $7.8 million, in comparison with roughly $3.5 million as Smokey Bones.
Twin Hospitality has recognized 15 underperforming Smokey Bones areas that it’s going to shut by the tip of the primary quarter in 2026. The chain has quietly closed extra areas than it initially deliberate to shut.
Extra Eating places
- Taco Bell and KFC work on simplifying their eating places
- Chick-fil-A making main change to 425 eating places nationwide
- Bankrupt beer and pizza restaurant chain closes areas
- Restaurant chain famed for impolite waiters closes a number of areas
Some trade analysts have speculated that FAT Manufacturers/Twin Hospitality could possibly be seeking to exit the barbecue enterprise fully.
“Though profitable, considering the menu is highly focused on entrees such as steak and brisket, which have faced steep price increases, this year could be the end of Smokey Bones,” Finance Buzz reported.
Smokey Bones has closed extra areas than it stated it will.
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Smokey Bones retains getting smaller
- Smokey Bones’ mum or dad firm, Twin Hospitality Group, has been closing underperforming eating places as a part of a broader restructuring plan.
- 15 underperforming Smokey Bones areas had been recognized for closure; 10 had closed in 2025, and the remaining 5 had been to be shuttered by the tip of that yr.
- Alongside closures, 19 Smokey Bones areas are being transformed into Twin Peaks eating places (a better-performing sister model).
- The chain has closed extra areas than it initially deliberate to.
Sources: Restaurant Dive, FAT Manufacturers press launch
Particular 2026 Location Closures
Listed below are a number of confirmed everlasting closures early in 2026:
- Orlando (Colonial Drive, FL): Smokey Bones has completely closed its restaurant at 3400 E. Colonial Drive, Bungalower reported.
- Rockford, Illinois: The East State Road Smokey Bones location shut its doorways completely in January 2026, in keeping with Rock River Present.
- West Boca Raton, FL: The ultimate Smokey Bones in South Florida closed after years in enterprise, shared Faucet Into Boca Raton.
- Maumee, Ohio: The Smokey Bones in Maumee has closed completely, in keeping with WTOL 11.
- Cheektowaga, New York: The longtime Smokey Bones on Walden Avenue closed in mid-January 2026, reported CNY Information.
- Robinson Township (Pittsburgh space), PA: That Smokey Bones location has additionally shut down, in keeping with Hoodline.
The Smokey Bones web site presently reveals 20 areas open, down from the 26 the chain had stated it deliberate to maintain open when it first introduced the closures.
Native specialists suppose the chain simply now not stands out.
“I think it’s just reflective of the fact that there’s just a lot more options than in years past in the Valley,” Marc Nelson, Director of Financial Improvement for the Metropolis of Roanoke instructed WSLS. “And that was one (Smokey Bones) was one of the restaurants that just wasn’t frequented as much.”
FAT Manufacturers faces chapter danger
FAT Manufacturers might “seek to reorganize through a bankruptcy proceeding” after receiving notices of acceleration on the corporate’s debt, in keeping with a current 8-Ok submitting with the SEC, UMB Financial institution, because of roughly $1.26 billion in securitized debt instantly due.
“The company had previously received default notices after failing to make scheduled payments on Oct. 27 due to insufficient funds in its collection accounts,” Nation’s Restaurant Information (NRN) reported.
The submitting states that FAT Manufacturers and its financing subsidiaries “do not currently have amounts on hand” to pay the accelerated principal and curiosity. The corporate warned that the acceleration — or a possible foreclosures on the collateral — might materially hurt FAT Manufacturers’ enterprise, monetary situation, and liquidity, probably resulting in chapter.
CEO Andy Wiederhorn believes that his firm can restructure the debt.
“We’ve been talking about restructuring this debt for 18 months to two years with our note holders,” Wiederhorn stated. “It has not been a very constructive negotiation. … We’re looking at avenues to lower the debt and make it just make it practical. I wish I could say that this was go quickly and get resolved but it may take a couple of rounds.”
He famous that the corporate has free money movement of $60 million.
“We just need the debt stack restructured to be affordable,” Wiederhorn stated. “I think that’s a conclusion our note holders need to come to sooner rather than later.”
The mum or dad firm has been struggling, in keeping with trade reporting.
“FAT Brands’ sales and profits have deteriorated over the past two years. Interest expense on its debt on its own totaled more than $100 million in the first nine months. Twin Peaks isn’t in much better shape. It has lost $26 million in the first nine months of 2025, and its same‑store sales have fallen for four straight quarters,” Restaurant Enterprise On-line reported.
FAT Manufacturers’ gross sales have fallen
- Whole income declined 2.3% to $140.0 million in comparison with $143.4 million within the fiscal third quarter of 2024
- System-wide gross sales declined 5.5%
- System-wide same-store gross sales declined 3.5%
- 13 new retailer openings through the fiscal third quarter of 2025
- Web lack of $58.2 million, or $3.39 per diluted share, in comparison with $44.8 million, or $2.74 per diluted share, within the fiscal third quarter of 2024
Supply: FAT Manufacturers Q3 earnings launch
“Total revenue decreased $3.4 million, or 2.3%, in the third quarter of 2025 to $140 million compared to $143.4 million in the year-ago quarter, primarily driven by a decrease in restaurant revenue resulting from the closure of 11 underperforming Smokey Bones locations, the temporary closure of two Smokey Bones locations for conversion into a Twin Peaks lodge and lower same-store sales, partially offset by the opening of new Twin Peaks lodges,” the corporate shared.
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