TGI Fridays Inc. filed for Chapter 11 bankruptcy, indicating a need for restructuring amid financial difficulties exacerbated by the Covid-19 pandemic, yet all U.S. locations remain operational.
The pandemic significantly impacted restaurant chains with large real estate footprints like TGI Fridays, as consumer preferences shifted toward faster and cheaper dining options.
Since the pandemic, TGI Fridays has been exploring financing options for potential bankruptcy, highlighting the ongoing financial challenges facing even established dining brands.
Opened in 1965, TGI Fridays became famous for its vibrant happy hour culture and generous portion sizes, but has struggled to adapt to changing consumer habits.
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