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Bald Brah

Bald Brah

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Laura Dern was fugly in her 20s. Jesus Christ where's the eye bleach. Hollywood nepotism at its worst.
 
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havoc00

havoc00

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TGI Fridays Is Heading For Bankruptcy—What Happened?​


In May, Red Lobster filed for Chapter 11 Bankruptcy after a tumultuous few years. Buca Di Beppo followed suit this summer. Now, another popular restaurant chain is heading down the same path.

Late last week, anonymous sources told Bloomberg that TGI Fridays was preparing to file for Chapter 11 bankruptcy and was in talks with lenders who could possible keep the company afloat in the meantime.

While the restaurant chain is reportedly working with attorneys on bankruptcy preparations, there has yet to be an official statement from TGI Fridays or its legal representation.

In September, the company lost the majority of its assets after failing to file documents to bondholders before the required deadline. Several days later, UK-based operator Hostmore decided to back out of its plans to purchase TGI Fridays and quickly closed 35 restaurants. It also filed for the UK's version of bankruptcy.

The company's financial woes are nothing new, however. The restaurant chain has grappled with slow sales and closures—including nearly 50 in the U.S. alone just since the start of 2024. There are 215 locations still in operation, but that's a far cry from the 386 restaurants that were in business in May 2020.

www.delish.com

TGI Fridays Just Filed For Bankruptcy—What Went Wrong?

They join Red Lobster and Buca di Beppo in the Chapter 11 club.
www.delish.com www.delish.com
 
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Cleveland

Cleveland

<Silver Donator>
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havoc00 said:

TGI Fridays Is Heading For Bankruptcy—What Happened?​


In May, Red Lobster filed for Chapter 11 Bankruptcy after a tumultuous few years. Buca Di Beppo followed suit this summer. Now, another popular restaurant chain is heading down the same path.

Late last week, anonymous sources told Bloomberg that TGI Fridays was preparing to file for Chapter 11 bankruptcy and was in talks with lenders who could possible keep the company afloat in the meantime.

While the restaurant chain is reportedly working with attorneys on bankruptcy preparations, there has yet to be an official statement from TGI Fridays or its legal representation.

In September, the company lost the majority of its assets after failing to file documents to bondholders before the required deadline. Several days later, UK-based operator Hostmore decided to back out of its plans to purchase TGI Fridays and quickly closed 35 restaurants. It also filed for the UK's version of bankruptcy.

The company's financial woes are nothing new, however. The restaurant chain has grappled with slow sales and closures—including nearly 50 in the U.S. alone just since the start of 2024. There are 215 locations still in operation, but that's a far cry from the 386 restaurants that were in business in May 2020.

www.delish.com

TGI Fridays Just Filed For Bankruptcy—What Went Wrong?

They join Red Lobster and Buca di Beppo in the Chapter 11 club.
www.delish.com www.delish.com
Click to expand...
Fridays is like three steps above Applebees and that ain't good
 
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Cleveland

Cleveland

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havoc00 havoc00

how do you like hot chicks with freckles?

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Palum

Palum

what Suineg set it to
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havoc00 said:

TGI Fridays Is Heading For Bankruptcy—What Happened?​


In May, Red Lobster filed for Chapter 11 Bankruptcy after a tumultuous few years. Buca Di Beppo followed suit this summer. Now, another popular restaurant chain is heading down the same path.

Late last week, anonymous sources told Bloomberg that TGI Fridays was preparing to file for Chapter 11 bankruptcy and was in talks with lenders who could possible keep the company afloat in the meantime.

While the restaurant chain is reportedly working with attorneys on bankruptcy preparations, there has yet to be an official statement from TGI Fridays or its legal representation.

In September, the company lost the majority of its assets after failing to file documents to bondholders before the required deadline. Several days later, UK-based operator Hostmore decided to back out of its plans to purchase TGI Fridays and quickly closed 35 restaurants. It also filed for the UK's version of bankruptcy.

The company's financial woes are nothing new, however. The restaurant chain has grappled with slow sales and closures—including nearly 50 in the U.S. alone just since the start of 2024. There are 215 locations still in operation, but that's a far cry from the 386 restaurants that were in business in May 2020.

www.delish.com

TGI Fridays Just Filed For Bankruptcy—What Went Wrong?

They join Red Lobster and Buca di Beppo in the Chapter 11 club.
www.delish.com www.delish.com
Click to expand...
I think some restaurants just get stale. These mediocre corporate chains don't offer cheap, good, unique or quick food. When you're looking for generic mid priced low quality food you're just going to eventually try new places instead.
 
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Cleveland

Cleveland

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Palum said:
I think some restaurants just get stale. These mediocre corporate chains don't offer cheap, good, unique or quick food. When you're looking for generic mid priced low quality food you're just going to eventually try new places instead.
Click to expand...
I don't think that's true - that's why all these chains are so prominent in tourist locations.
 
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Bald Brah

Bald Brah

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Palum said:
I think some restaurants just get stale. These mediocre corporate chains don't offer cheap, good, unique or quick food. When you're looking for generic mid priced low quality food you're just going to eventually try new places instead.
Click to expand...

They really get stale when inflation is 20+ percent over a few years. Every time a democrat is in office.
 
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Palum

Palum

what Suineg set it to
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Cleveland said:
I don't think that's true - that's why all these chains are so prominent in tourist locations.
Click to expand...
Most of these chains are not in prime tourist retail they're in local shopping areas in my experience. It's more upscale ones that go into the busier places.
 
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Cleveland

Cleveland

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Palum said:
Most of these chains are not in prime tourist retail they're in local shopping areas in my experience. It's more upscale ones that go into the busier places.
Click to expand...
I don't know about right now, but there were a tone of them in Times Square - New York city and there would be a line for Olive Garden
 
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Bald Brah

Bald Brah

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Cleveland said:
I don't know about right now, but there were a tone of them in Times Square - New York city and there would be a line for Olive Garden
Click to expand...

NYC is different. A lot of businesses will put a flagship store in Times Square. That's more about branding and advertising. Like McDonalds had their state of the art touchscreen menus there first.
 
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Cleveland

Cleveland

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Bald Brah said:
NYC is different. A lot of businesses will put a flagship store in Times Square. That's more about branding and advertising. Like McDonalds had their state of the art touchscreen menus there first.
Click to expand...
That's fine but when most people travel they tend to go to places they are familiar with
 
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