twin hospitality group announces executive retirement

Twin Hospitality Group Inc. (NASDAQ:TWNP) announced the retirement of its Chief Development Officer, Michael Locey, effective June 6, 2025. Locey, 66, has been with the company for an unspecified period. The announcement comes at a challenging time for the company, which generated $348.85 million in revenue over the last twelve months but faces significant financial pressures with a debt burden of $570.73 million. The announcement was made as part of a formal filing with the Securities and Exchange Commission. Twin Hospitality Group, based in Dallas, Texas, is incorporated in Delaware and operates within the retail-eating places sector. According to InvestingPro analysis, the company’s financial health score is currently rated as WEAK, with the stock down over 76% year-to-date. Investors seeking detailed insights can access the comprehensive Pro Research Report, which provides in-depth analysis of TWNP and 1,400+ other US stocks.

In other recent news, Twin Hospitality Group Inc. reported a mixed financial performance for Q1 2025. The company experienced a 5.4% decline in total revenue, bringing it to $87.1 million, and a widened net loss of $12.1 million compared to $9.2 million in the previous year. Despite these setbacks, Twin Peaks, a key brand under Twin Hospitality, recorded a 5.1% increase in system-wide sales, showing resilience in a competitive market. Notably, the company plans to open 3-4 new units in 2025 and aims for a $75-100 million equity raise, with a strategic focus on leveraging major sporting events for growth.

In leadership news, Twin Hospitality Group appointed Kim Boerema as the new CEO, bringing his extensive experience to bolster the Twin Peaks brand. Boerema’s previous roles include President and COO at Parry’s Pizzeria & Taphouse, CEO and President of Iron Hill Brewery and Restaurant, and COO of California Pizza Kitchen. His appointment is part of the company’s strategic development to expand its footprint, with a pipeline of 100 lodges planned. Meanwhile, interim CEO Ken Gueck emphasized the brand’s long-term vision and potential for growth.

Additionally, Twin Hospitality is navigating challenges such as declining same-store sales and commodity inflation, which could impact margins. The company is also in the process of converting Smoky Bones locations into Twin Peaks lodges, which has temporarily affected revenue. These developments come amidst Twin Peaks celebrating 20 years of operations, with plans for further expansion and innovation in the coming years.

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