Loading...
Market
Will TGI Fridays announce a new merger or acquisition deal by June 30, 2025?
3
Resolution / Starting Odds
Yes • 50%
No • 50%
Official announcements from TGI Fridays or credible news reports
Story
TGI Fridays Files for Chapter 11 Bankruptcy Amid Pandemic Struggles and Restaurant Closures
Nov 2, 2024, 04:45 PM
American casual dining chain TGI Fridays has filed for Chapter 11 bankruptcy protection in Texas on Saturday, citing ongoing financial struggles and an inability to recover from the COVID-19 pandemic, according to the company's chairman. The Dallas-based company, which operates 39 locations, has closed dozens of restaurants in recent years, including 36 restaurants in January and almost 50 locations this week, as it seeks ways to ensure its long-term viability. A planned merger with Hostmore fell through in September, further impacting the company's financial situation. The bankruptcy filing affects the parent company, while franchised restaurants continue operations.
View original story
Similar markets
Majority stake sold • 25%
Minority stake sold • 25%
No change in ownership • 25%
Company goes private • 25%
Successful restructuring • 25%
Partial restructuring with some closures • 25%
No significant restructuring • 25%
Complete liquidation • 25%
Yes • 50%
No • 50%
Merger with another telecom company • 25%
Acquisition of a smaller company • 25%
Acquisition by another company • 25%
No merger or acquisition • 25%
COVID-19 pandemic impact • 25%
Increased competition • 25%
Management issues • 25%
Other reasons • 25%
