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TGI Fridays Files for Bankruptcy Following Years of Diners' Declining Interest

By Soma Biswas

TGI Fridays Files for Bankruptcy Following Years of Diners' Declining Interest

Restaurant chain TGI Fridays filed for bankruptcy protection, citing a problematic capital structure and fallout from the Covid-19 pandemic.

The Texas-based bar-and-grill chain, which for years has been shedding sales in the U.S., filed for chapter 11 bankruptcy Saturday in the U.S. Bankruptcy Court in Dallas. TGI Fridays has lined up a loan from the Bank of San Antonio, its lender, to provide funding while it is in bankruptcy, according to a court filing by the company.

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