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TGI Fridays Files for Bankruptcy amid
Money Troubles

Original Article

Posted By: Imright, 11/2/2024 7:29:32 PM

Restaurant chain TGI Fridays announced on Saturday it has filed for Chapter 11 bankruptcy, the news coming as numerous other similar businesses have done the same. According to Reuters, the chain has been struggling financially and experienced a “collapsed deal” with a British operator. “In a filing with the U.S. bankruptcy court for the Northern District of Texas, the company listed both assets and liabilities in the range of $100 million to $500 million,” the article said. The business, which is “privately owned by TriArtisan Capital Advisors,” has “secured a financing commitment to support operations.”

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Reply 1 - Posted by: Italiano 11/2/2024 7:38:13 PM (No. 1824919)
Sad. I was a regular in Costa Mesa during the 80's, as far as I can remember.
4 people like this.

Reply 2 - Posted by: zephyrgirl 11/2/2024 8:17:41 PM (No. 1824932)
I used to love TGI Fridays in my youth (many years ago). The last time I ate in one (about 10 years ago), I was very disappointed. Never went back.
4 people like this.

Reply 3 - Posted by: jimincalif 11/2/2024 8:27:01 PM (No. 1824935)
Don’t tell me, let me guess - another over-leveraged private equity deal gone sour? Too much debt and companies can’t weather a few rough spots.
3 people like this.

Reply 4 - Posted by: Urgent Fury 11/2/2024 10:19:56 PM (No. 1824970)
Like other posters, used to hit TGIF almost daily. Really good drink specials in the late 90s.
2 people like this.

Reply 5 - Posted by: mifla 11/3/2024 4:09:19 AM (No. 1825060)
Restaurants are a difficult way to make money. When the price of everything goes up, consumers tend to stop going out to eat to save money.
3 people like this.

Reply 6 - Posted by: JHHolliday 11/3/2024 1:24:52 PM (No. 1825369)
#5 is exactly right. Eating out is an extra expense that can't be enjoyed by a lot of people strapped by FJB's inflation. A friend here owns a high-end restaurant here and he seems to be holding his own for now. Four more years under Kamala might do him in.
2 people like this.

Reply 7 - Posted by: cheeflo 11/3/2024 5:07:32 PM (No. 1825443)
I worked for the Carlson Companies in the late 90s when it owned TGI Fridays. Worst steak I ever had was there.
1 person likes this.

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