November 21, 2024
After a tough five years in which TGI Fridays saw two scuttled acquisitions, a shrinking footprint and attempts to offset COVID-19 pandemic losses, the dining chain known for its peppy atmosphere, comfort food and cocktails became one of the latest restaurant groups to hit Chapter 11.
November 20, 2024
A Texas bankruptcy judge on Wednesday approved TGI Fridays' procedures for contacting and selecting prospective buyers for its assets after the struggling restaurant chain said it was in discussions with at least 21 potential bidders.
November 06, 2024
Casual dining chain TGI Fridays Inc. has assembled a team of lawyers from Ropes & Gray LLP and Foley & Lardner LLP to help it with the Chapter 11 it initiated in Texas to cope with almost $151 million in debt and pursue a sale.
November 05, 2024
Several companies sought Chapter 11 bankruptcy protection this week, reflecting diverse challenges across industries. TGI Fridays and Rainbow Production Services cited economic pressures and a post-COVID downturn, while Star Transportation and New Jersey nonprofit CarePoint Health Systems pointed to rising costs and funding issues that intensified after the pandemic.
November 04, 2024
Casual dining chain TGI Fridays Inc. filed for Chapter 11 protection in Texas with nearly $151 million in debt, blaming the COVID-19 pandemic and its capital structure and planning a sale within two months.