{"id":121364,"date":"2024-11-02T22:41:46","date_gmt":"2024-11-02T15:41:46","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=121364"},"modified":"2024-11-02T22:41:46","modified_gmt":"2024-11-02T15:41:46","slug":"tgi-fridays-files-for-bankruptcy","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=121364","title":{"rendered":"TGI Friday&#8217;s Files for Bankruptcy"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div>\n<ul class=\"summary-list\">\n<li>TGI Friday&#8217;s Inc. filed for Chapter 11 bankruptcy protection on November 2.<\/li>\n<li>The company listed both assets and liabilities as between $100 million and $500 million.<\/li>\n<li>It joins a growing number of restaurant chains going bankrupt.<\/li>\n<\/ul>\n<p><!-- Excluded mobile ad on desktop --><\/p>\n<div class=\"inline-newsletter-signup&#10;                          headline-regular loading&#10;                          insider-today\" id=\"formContainer\" data-component-type=\"inline-newsletter-module\" data-event-label=\"insider_today\" data-newsletter-id=\"1\" data-newsletter-title=\"Insider Today\" data-acq-source=\"retailinlinesignup\" data-track-view=\"{&quot;product_field&quot;:&quot;bi_value_unassigned&quot;,&quot;element_name&quot;:&quot;inline_newsletter&quot;}\">\n<section class=\"inline-newsletter-content\">\n<div class=\"success-container__mobile d-none\">\n<p>Thanks for signing up!<\/p>\n<p>\n                              Access your favorite topics in a personalized feed while you&#8217;re on the go.<br \/>\n                              <button class=\"rounded-button headline-semibold white-button download\" type=\"white\"><br \/>\n                                download the app<br \/>\n                              <\/button>      <\/p>\n<\/p><\/div>\n<form id=\"emailCapture\" action=\"javascript:void(0);\" method=\"POST\" novalidate=\"\">\n<div class=\"sign-up-tos headline-regular\" id=\"nlTos\">\n                                  By clicking \u201cSign Up\u201d, you accept our <a class=\"tos-anchor\" href=\"https:\/\/www.insider-inc.com\/terms\" target=\"_blank\" rel=\"noopener\">Terms of Service<\/a> and <a class=\"tos-anchor\" href=\"https:\/\/www.insider-inc.com\/privacy-policy\" target=\"_blank\" rel=\"noopener\">Privacy Policy<\/a>. You can opt-out at any time by visiting our Preferences page or by clicking &#8220;unsubscribe&#8221; at the bottom of the email.\n                              <\/div>\n<\/p><\/form>\n<\/section>\n<div class=\"inline-newsletter-img-wrapper-desktop\">\n<div class=\"lazy-holder lazy-holder  has-transparency\" style=\"padding-top: calc(100% * 124 \/ 111)\">\n<p>                              <img decoding=\"async\" class=\"lazy-image has-transparency\" viewbox=\"0 0 1 1\" src=\"https:\/\/www.businessinsider.com\/public\/assets\/rebrand\/newsletter-bull.png\" alt=\"Bull\"\/><\/p>\n<p>                              <noscript><br \/>\n                                  <img decoding=\"async\" src=\"https:\/\/www.businessinsider.com\/public\/assets\/rebrand\/newsletter-bull.png\"\/><br \/>\n                              <\/noscript><\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>TGI Friday&#8217;s Inc., the restaurant chain known for its casual eats, filed for Chapter 11 bankruptcy protection in the Northern District of Texas on Saturday.<\/p>\n<p>The documents listed the company&#8217;s assets as between $100 million and $500 million and its liabilities as between $100 million and $500 million.<\/p>\n<p>Rohit Manocha, executive chairman of TGI Friday&#8217;s Inc., said in a statement on Saturday that the company had taken the &#8220;difficult but necessary actions to protect the best interests of our stakeholders, including our domestic and international franchisees and our valued team members around the world.&#8221;<\/p>\n<p>Manocha said the &#8220;primary driver&#8221; of TGI Friday&#8217;s financial struggles &#8220;resulted from COVID-19 and our capital structure.&#8221;<\/p>\n<p><!-- Excluded mobile ad on desktop --><\/p>\n<p>&#8220;This restructuring will allow our go-forward restaurants to proceed with an optimized corporate infrastructure that enables them to reach their full potential,&#8221; he added.<\/p>\n<p>First opened on the corner of 63rd Street and 1st Avenue in New York in 1965, the brand went on to <a target=\"_blank\" class=\"\" href=\"https:\/\/www.businessinsider.com\/tgi-fridays-secrets-facts-2018-8\" data-analytics-product-module=\"body_link\" rel=\"noopener\">become an American classic<\/a> known for its casual dishes, from burgers and sandwiches to chicken strips and steaks.<\/p>\n<p>But recent years have seen the <a target=\"_blank\" class=\"\" href=\"https:\/\/www.businessinsider.com\/tgi-fridays-closes-restaurants-list-locations-2024-1\" data-analytics-product-module=\"body_link\" rel=\"noopener\">casual dining sector<\/a> face increasing challenges brought on by a cost-of-living crisis and consumer preferences shifting toward faster food.<\/p>\n<p>Restaurant consultant Tim Powell told BI in January that the &#8220;trend of closures will continue as casual dining has been faced with a sea of sameness for years.&#8221;<\/p>\n<p><!-- Excluded mobile ad on desktop --><\/p>\n<p>Powell said that Friday&#8217;s lacked a &#8220;position or reason to visit. Few customers want to spend time and money at a casual dining restaurant, and many of them are dated.&#8221;<\/p>\n<p>Ahead of Saturday&#8217;s announcement, <a target=\"_blank\" class=\"\" href=\"https:\/\/www.businessinsider.com\/tgi-fridays-closes-restaurants-list-locations-2024-1\" data-analytics-product-module=\"body_link\" rel=\"noopener\">TGI Friday&#8217;s had faced a string of location closures<\/a> as pressure on the business mounted.<\/p>\n<p>The company joins a <a target=\"_blank\" class=\"\" href=\"https:\/\/www.dailymail.co.uk\/yourmoney\/article-13805851\/restaurant-chains-filed-bankruptcy-year.html\" data-analytics-product-module=\"body_link\" rel=\"nofollow noopener\">growing list<\/a> of restaurant chains to have sought bankruptcy this year.<\/p>\n<p>Business Insider has contacted TGI Friday&#8217;s for comment.<\/p>\n<\/p><\/div>\n<p><script>window.allScripts = window.allScripts || []; window.allScripts.push({ type: \"load\", script: \"%3Cscript%20id%3D%22meta-pixel-script%22%3E(()%3D%3E%7Bvar%20e%3D%7B69531%3A()%3D%3E%7Bvar%20e%2Cr%2Cn%2Ct%2Co%2Ci%3Bfunction%20s()%7Bwindow.Fenrir%3F.cm%3F.usPrivacyApplies%26%26%22ACCEPT%22%3D%3D%3Dwindow.Fenrir%3F.cm%3F.userConsent.OPT_OUT%3Ffbq(%22dataProcessingOptions%22%2C%5B%22LDU%22%5D%2C0%2C0)%3Afbq(%22dataProcessingOptions%22%2C%5B%5D)%2Cfbq(%22init%22%2C%221988166924554892%22)%2Cfbq(%22track%22%2C%22PageView%22)%7De%3Dwindow%2Cr%3Ddocument%2Cn%3D%22script%22%2Ce.fbq%7C%7C(t%3De.fbq%3Dfunction()%7Bt.callMethod%3Ft.callMethod.apply(t%2Carguments)%3At.queue.push(arguments)%7D%2Ce._fbq%7C%7C(e._fbq%3Dt)%2Ct.push%3Dt%2Ct.loaded%3D!0%2Ct.version%3D%222.0%22%2Ct.queue%3D%5B%5D%2C(o%3Dr.createElement(n)).async%3D!0%2Co.src%3D%22https%3A%2F%2Fconnect.facebook.net%2Fen_US%2Ffbevents.js%22%2C(i%3Dr.getElementsByTagName(n)%5B0%5D).parentNode.insertBefore(o%2Ci))%2Cwindow.Fenrir%3F.cm%3F.cmStarted%26%26window.Fenrir%3F.cm%3F.userConsent%3Fs()%3AsetTimeout(s%2C1e3)%7D%7D%2Cr%3D%7B%7D%3Bfunction%20n(t)%7Bvar%20o%3Dr%5Bt%5D%3Bif(void%200!%3D%3Do)return%20o.exports%3Bvar%20i%3Dr%5Bt%5D%3D%7Bexports%3A%7B%7D%7D%3Breturn%20e%5Bt%5D(i%2Ci.exports%2Cn)%2Ci.exports%7Dn.m%3De%2Cn.c%3Dr%2Cn.o%3D(e%2Cr)%3D%3EObject.prototype.hasOwnProperty.call(e%2Cr)%2C(()%3D%3E%7Bn.S%3D%7B%7D%3Bvar%20e%3D%7B%7D%2Cr%3D%7B%7D%3Bn.I%3D(t%2Co)%3D%3E%7Bo%7C%7C(o%3D%5B%5D)%3Bvar%20i%3Dr%5Bt%5D%3Bif(i%7C%7C(i%3Dr%5Bt%5D%3D%7B%7D)%2C!(o.indexOf(i)%3E%3D0))%7Bif(o.push(i)%2Ce%5Bt%5D)return%20e%5Bt%5D%3Bn.o(n.S%2Ct)%7C%7C(n.S%5Bt%5D%3D%7B%7D)%3Bn.S%5Bt%5D%3Bvar%20s%3D%5B%5D%3Breturn%20s.length%3Fe%5Bt%5D%3DPromise.all(s).then((()%3D%3Ee%5Bt%5D%3D1))%3Ae%5Bt%5D%3D1%7D%7D%7D)()%3Bn(69531)%7D)()%3B%3C%2Fscript%3E\" });<\/script><br \/>\n<br \/><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/www.businessinsider.com\/tgi-fridays-files-for-bankruptcy-2024-11\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>TGI Friday&#8217;s Inc. filed for Chapter 11 bankruptcy protection on November 2. The company listed both assets and liabilities as between $100 million and $500 million. 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