US EditionTGI Fridays files for bankruptcy protection as sit-down restaurant struggles continue
- TGI Fridays filed for Chapter 11 bankruptcy protection, aiming to "ensure the long-term viability" of the brand after closing many branches this year.
- The company's sales in the U.S. were $728 million in 2023, representing a 15% decrease from the previous year, according to Technomic.
- TGI Fridays now has 163 restaurants in the U.S., down from 269 last year, with recent closures including 36 in January and others in the past week.
168 Articles
168 Articles
US restaurant chain TGI Fridays files for bankruptcy
Washington, United States — Casual American dining chain TGI Fridays filed for Chapter 11 bankruptcy on Saturday in the US state of Texas, a company statement said. The bar and grill chain — known for serving up hamburgers, chicken wings and signature cocktails — said its dozens of restaurants in the United States and abroad would remain open to customers while the company uses the restructuring process to “explore strategic alternatives in orde…
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TGI Fridays, the Casual Dining Chain, Files for Bankruptcy
TGI Fridays Inc., the casual American dining chain that for more than half a century served customers happy-hour deals, hamburgers and comfort-food appetizers like mozzarella sticks and loaded potato skins, filed for bankruptcy protection on Saturday. The Dallas-based company filed for Chapter 11 bankruptcy in the Northern District of Texas to begin a “restructuring process” to ensure the “long-term viability of the brand,” according to a compan…
TGI Fridays files for bankruptcy protection as other fast food chains struggle
TGI Fridays has filed for bankruptcy protection to “position [its] restaurants for long-term success,” the casual-dining restaurant chain announced Saturday. The self-described “birthplace of fun, freedom and celebration” filed for Chapter 11 protections in a federal court in Texas early on Saturday in a bid to allow the company to “explore strategic alternatives in order to ensure the long-term viability of the brand.” The bankruptcy will only …
The U.S. fast food chain TGI Fridays declared bankruptcy under Chapter 11 of the U.S. Bankruptcy Act. In a statement, the company attributes its bad financial situation to the COVID-19 pandemic and proposes “explore strategic alternatives to ensure the long-term viability of the brand.”“The next steps announced today are difficult, but necessary to protect the interests of the parties involved, including our national and international franchises…
TGI Fridays files for bankruptcy protection in the US | UK News | Tech, Entertainment, Sport, Fashion, Travel News
Restaurant chain TGI Fridays has filed for bankruptcy protection in the US. The bankruptcy protection filing was made by TGI Fridays Inc, a Dallas-based American arm of the casual dining brand, which operates 39 restaurants in the US. It comes after the company faced financial challenges due to the COVID-19 pandemic and after a deal […]
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