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Will TGI Fridays emerge from Chapter 11 by end of 2025?
3
Resolution / Starting Odds
Yes • 50%
No • 50%
Official announcements from TGI Fridays or court records
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.
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Similar markets
Successful restructuring • 25%
Partial restructuring with some closures • 25%
No significant restructuring • 25%
Complete liquidation • 25%
Majority stake sold • 25%
Minority stake sold • 25%
No change in ownership • 25%
Company goes private • 25%
COVID-19 pandemic impact • 25%
Increased competition • 25%
Management issues • 25%
Other reasons • 25%
Yes • 50%
No • 50%
