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Twin Hospitality Group Inc. (NASDAQ:TWNP) announced that James Ellis has resigned from its board of directors, effective immediately. The company reported the departure in a filing with the Securities and Exchange Commission on Tuesday. The resignation comes as the hospitality company faces significant financial challenges, with InvestingPro data showing the stock has plummeted 91.94% year-to-date and is currently trading at $1.34, just pennies above its 52-week low.
According to the statement, Mr. Ellis informed Twin Hospitality Group of his decision on November 25, citing personal reasons for his resignation. The company said that Mr. Ellis’s resignation was not due to any disagreement with the company regarding its operations, policies, or practices. While the resignation appears amicable, InvestingPro Tips indicate the company is quickly burning through cash and operating with a significant debt burden of $558.45 million against a market cap of just $83.12 million.
Twin Hospitality Group is incorporated in Delaware and is based in Dallas, Texas. The company’s Class A Common Stock is listed on The Nasdaq Stock Market under the symbol TWNP.
This information is based on a press release statement included in the company’s SEC filing.
In other recent news, Twin Hospitality Group Inc. reported mixed results for its Q3 2025 earnings, with a decrease in revenue and a widening net loss, though there were noted improvements in adjusted EBITDA. The company also announced plans to acquire eight Twin Peaks franchised restaurants in Florida for approximately $47 million in cash. This acquisition is expected to bring in an additional $76-$77 million in annual revenue and $9-$10 million in EBITDA. Meanwhile, Twin Hospitality received a notice of acceleration for its $412 million notes due to previous default notices after missing scheduled payments. Noble Capital downgraded Twin Hospitality from Outperform to Market Perform, citing concerns over the company’s debt restructuring efforts. Despite these financial challenges, the company continues to expand its restaurant portfolio. The acquisition includes locations in Davie, Fort Myers, West Palm Beach, Pembroke Pines, Hollywood, Cypress Creek, Doral, and Naples.
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