---
title: "Twin Peaks Franchisees Pursue Ownership After FAT Brands Bankruptcy"
url: https://burnaze.com/article/328c79d7-bf8e-4d57-b74c-e01ca1c968af
source: "1851 Franchise"
original_url: https://1851franchise.com/twin-peaks-franchisees-move-toward-acquiring-brand-following-fat-brands-bankruptcy-2732605
category: "Casual dining"
industry: "Restaurants"
segment: "Casual dining"
topics: ["Finance & M&A"]
published: 2026-07-16T17:12:14.000Z
modified: 2026-10-31T15:31:50.088Z
image: https://newimage.1851franchise.com/cdn-cgi/image/quality=85,format=webp,width=1280,height=720/story/featureImage/1784223073_feature.png
---

# Twin Peaks Franchisees Pursue Ownership After FAT Brands Bankruptcy

**TL;DR:** Twin Peaks franchisees under Summit Acquisitions are taking over the brand after FAT Brands' bankruptcy, with plans to purchase the company outright in the future. The new structure aims to provide operational support and investment to the brand, which stalled under FAT Brands' financial struggles.

*originally published in 1851 Franchise on 2026-07-16. [Read the original](https://1851franchise.com/twin-peaks-franchisees-move-toward-acquiring-brand-following-fat-brands-bankruptcy-2732605).*

## Story

Twin Peaks is entering a new chapter after the bankruptcy and breakup of parent company FAT Brands. A group of three longtime Twin Peaks franchisees operating under the name Summit Acquisitions has stepped in to help lead the brand after creditors acquired the 115-unit chain through a $359.5 million credit bid, converting debt into equity. Over the next year, Summit will oversee the business on behalf of the bondholders before ultimately seeking to purchase the company outright, creating the unusual scenario of franchisees transitioning into ownership of the franchisor itself.

According to John Hong, founder and principal of Summit, and Roger Gondek, president and chief operating officer of Twin Peaks, the new structure is designed to give the brand the operational support and investment it lacked during FAT Brands' financial struggles. While Gondek said FAT Brands largely allowed Twin Peaks to operate independently, the parent company's deteriorating financial position limited the resources available for growth, causing expansion and innovation to stall. Leadership believes the franchisee-led ownership model will provide stronger alignment between corporate leadership and operators in the field.

More broadly, the transaction represents a rare example of franchisees taking a direct leadership role in rescuing and eventually acquiring their franchisor. If successful, the transition could become a notable case study in how experienced operators can stabilize a franchise system during financial restructuring while aligning ownership more closely with the interests of franchisees.

## Entities

- 1851 Franchise (publication)
- QSR (sector)
- Fat Brands (company)
- Twin Peaks (company)
- brand acquisition (topic)
- bankruptcy (topic)
- franchisee ownership (topic)
- John Hong (person)
- Roger Gondek (person)
- Summit Acquisitions (investor)
- Summit Acquisitions acquisition of Twin Peaks (deal)
- franchisor restructuring (topic)

---
Originally reported by 1851 Franchise (https://1851franchise.com/twin-peaks-franchisees-move-toward-acquiring-brand-following-fat-brands-bankruptcy-2732605). Summarized by Burnaze (https://burnaze.com/article/328c79d7-bf8e-4d57-b74c-e01ca1c968af).