TGI Fridays Files for Chapter 11 Bankruptcy

Dallas — TGI Fridays Inc., which owns and operates 39 U.S. restaurants, has voluntarily filed for Chapter 11 bankruptcy protection in the Northern District of Texas. The Dallas-based operator cited long-running declines in sales dating back to the pandemic as the main impetus behind the filing. All independently owned and operated franchise locations, both foreign and domestic, are unaffected by the filing. An entity doing business as TGI Fridays Franchisor LLC, which owns the TGI Fridays brand and other intellectual property, was also unaffected. TGI Fridays Inc. has secured a commitment for debtor-in-possession financing from its lenders to support operations at its 39 restaurants while proceeding through the Chapter 11 process. Globally, the chain’s footprint spans 461 locations across 41 countries.