Restaurant chain TGI Fridays said Saturday it has filed for bankruptcy protection as it looks for ways to “ensure the long-term viability” of the casual dining brand.
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Sit-down chain restaurants have more broadly faced challenges in recent years as diners choose to get food delivered or visit upscale fast food chains like Chipotle and Shake Shack.Founded in 1965, the popularity of TGI Fridays peaked in 2008 with 601 restaurants in the U.S. and a $2 billion business, according to Kevin Schimpf, director of industry research at Technomic. Its sales in the U.S. were $728 million in 2023, down 15% from the prior year, according to Technomic.
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TGI Fridays files for bankruptcy protection as sit-down restaurant struggles continueRestaurant chain TGI Fridays said Saturday it has filed for bankruptcy protection as it looks for ways to “ensure the long-term viability” of the casual dining brand.
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TGI Fridays could be approaching bankruptcy, according to reportsReports have starting rolling in that the TGI Fridays restaurant chain could be rapidly approaching bankruptcy.
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TGI Fridays could be approaching bankruptcy, according to reportsReports have starting rolling in that the TGI Fridays restaurant chain could be rapidly approaching bankruptcy.
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TGI Fridays could be approaching bankruptcy, according to reportsReports have starting rolling in that the TGI Fridays restaurant chain could be rapidly approaching bankruptcy.
Read more »