Major BBQ Chain Shutting Down Dozens of Locations For Shocking Reason!

Fat Brands, the parent company of Smokey Bones BBQ locations nationwide, has announced that they will close over 30 of their locations across America -- for a reason you might not expect.

They're planning to convert them to Twin Peaks sports bars, according to a new report from Eat This.

Fat Brands also owns Twin Peaks, a Hooters competitor. In their earnings call recently, they divulged some information as to the reason behind the flip.

CFO Ken Kuick said Twin Peaks' profit margins are 14.7 percent compared to 3.5 percent for Smokey Bones. He noted that "It will continue to be a drag on our margins and those restaurants will be a drag for a period of time," and that his team is "working to close those as quickly as possible."

That's a huge profit difference. And if you have another brand that can fit into that same space, it kind of makes sense to do the conversion, even if the shuffle can be pricey, too.

Eat This says that by the time this is all said and done, the current 45 remaining Smokey Bones BBQ locations will get withered down to 15. As for the other 30? Well, just call them Twin Peaks.

Speaking of Twin Peaks, the brand just went public on January 30, and is set to thrive. There are 115 Twin Peaks locations in 27 states and Mexico, and the brand has goals and dreams of getting that number up to 650 in the United States and up to 250 internationally.

It seems as if Fat Brands spotted the money-bleeding from their Smokey Bones BBQ brand quickly enough to shut them down and turn those small profit margins into much bigger bucks.