TGI Fridays, an iconic American restaurant chain, filed for Chapter 11 bankruptcy, the company announced Saturday.
TGI Fridays, which boasts over 160 U.S. locations, pointed to the COVID-19 pandemic as the “primary driver of our financial challenges.” The statement continued, explaining the Chapter 11 filing will help the eatery “explore strategic alternatives in order to ensure the long-term viability of the brand.”
“The next steps announced today are difficult but necessary actions to protect the best interests of our stakeholders, including our domestic and international franchisees and our valued team members around the world,” Rohit Manocha, TGI Fridays’s executive chairman, said.
TGI Fridays, the American casual dining chain, files for bankruptcyhttps://t.co/JtXGz0qbfz
— CNN (@CNN) November 2, 2024
Only the 39 restaurants operated by TGI Fridays’s parent
