Dallas-Based TGI Fridays Files for Chapter 11 Bankruptcy Amid Financial Struggles

Nov 2, 2024, 04:19 PM

TGI Fridays, the well-known American bar and grill restaurant chain, has filed for Chapter 11 bankruptcy protection. The Dallas-based company has been struggling with financial difficulties, exacerbated by the COVID-19 pandemic. The chain has shuttered almost 50 locations in various states as part of its efforts to manage its financial woes. The bankruptcy filing, made on Saturday, aims to ensure the long-term viability of the brand, which has been a popular destination for casual dining and happy hour gatherings. The move comes after the company faced persistently weak performance and financial turmoil.