"The company expects to use the time and legal protections made available through the Chapter 11 restructuring process to allow the company to explore strategic alternatives in order to ensure the long-term viability of the brand."
"The fate of TGI Fridays and its ilk of casual sit-down chains have been falling out of favor and facing financial challenges for a decade; at the time, that was the worst-performing sector of the hospitality industry."
"The filing is due to tighter consumer budgets and a preference for fast food, indicating a shift in dining habits that has further impacted these casual dining establishments."
"Most notably Chili's - which was attributed in a 2024 earnings report to a boost in popularity from TikTok, where the Triple Dipper appetizer went viral."
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