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FAYETTEVILLE, N.C. - Twin Hospitality Group Inc. (NASDAQ:TWNP), a restaurant operator with annual revenue of $345.1 million and a market capitalization of $193.76 million, announced Thursday that it will open a new Twin Peaks restaurant in Fayetteville, North Carolina, this fall, marking the brand’s second location in the state and 115th overall.
The 8,200-square-foot sports lodge will be located at 1891 Skibo Road near Cross Creek Mall. This opening represents the company’s third conversion of a former Smokey Bones location, a strategy that allows for lower build-out costs and faster market entry. According to InvestingPro data, this expansion comes as the company faces challenges with cash burn and a significant debt burden, making cost-effective growth strategies crucial.
The Fayetteville location is expected to open in the fourth quarter of 2025 and will feature 70 TVs, 32 beers on tap, and an indoor bar. The restaurant is currently hiring for more than 100 positions across various roles.
"We’re proud to expand Twin Peaks in North Carolina through our third Smokey Bones conversion," said Kim Boerema, CEO of Twin Peaks, in a press release statement.
The new lodge will be operated by franchise group Music City, LLC, which previously opened a location in Fort Mill, South Carolina.
Once operational, the restaurant will serve guests from 11 a.m. to midnight Sunday through Thursday, and from 11 a.m. to 1 a.m. on Fridays and Saturdays.
Twin Hospitality Group Inc., founded in 2005, operates 114 locations across the United States and Mexico. The company describes its concept as a sports lodge featuring made-from-scratch food and cold beer.
The company went public earlier this year and is listed on the Nasdaq under the ticker symbol TWNP.
In other recent news, Twin Hospitality Group, Inc. reported its second-quarter 2025 earnings, showcasing a mixed financial performance. The company experienced a decline in overall revenue; however, certain segments saw growth. This report comes amid strategic shifts that have sparked investor optimism. While the stock price movement is not a focus here, it’s worth noting that the financial outcomes were well-received by investors. The earnings call highlighted the company’s ongoing strategic initiatives aimed at future growth. These developments are part of Twin Hospitality’s efforts to navigate the current market landscape. Investors are closely watching these shifts as the company continues to adapt its strategies.
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