"The absolute best barbecue restaurants in the U.S. tend to be local spots or small regional chains that cater to specific styles, and larger barbecue chains have been struggling recently. The two largest, Famous Dave's and Dickey's Barbecue Pit, both saw sales fall last year, and overall the barbecue chain sector saw a 2% decline in sales, according to Technomic (via NRN), which is quite bad given the 3% growth of chain restaurant sales overall."
"According to the company, 34 Smokey Bones locations have been identified as underperforming and losing money. Of those, 19 have been chosen to be converted from the barbecue restaurant to Twin Peaks locations, as it remains a rapidly growing brand. The other 15 locations will be closed over the next year, which will leave just 26 remaining Smokey Bones locations."
Barbecue chain sales have lagged while overall chain-restaurant sales grew. Famous Dave's and Dickey's Barbecue Pit both experienced sales declines, and the barbecue chain sector fell about 2%. Twin Hospitality Group identified 34 underperforming Smokey Bones locations out of roughly 60. The plan converts 19 of those into Twin Peaks sports-bar locations and closes 15 over the next year, leaving 26 Smokey Bones restaurants. The remaining locations are reported as cash-flow positive, and the company expects better margins and the conversions to improve performance. Smokey Bones launched in 1999 in Orlando and was acquired by Fat Brands in 2023.
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