Popular restaurant chain, T.G.I. Fridays closed 49 locations over the last week, bringing the total number of closures so far this year to over 100. At the start of 2024, T.G.I. Fridays had 270 locations, but as of this week, only 164 currently remain in business.
The 59-year-old restaurant chain is reportedly preparing to file for bankruptcy, stating they “will likely use Chapter 11.” Several restaurant closures occurred in California, Florida, Missouri, New Jersey, New York and Ohio; leaving Columbus, Ohio and Buffalo, New York a total exit from the two cities.
The bankruptcy filing is likely to come before the company’s next round of lease payments due at the remaining restaurants in November.
By - FZ
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