TGI Fridays shuts down 36 locations

[TheFugitive]

TGI Fridays has announced the closure of 36 locations.

https://www.msn.com/en-us/money/companies/tgi-fridays-closing-36-restaurants-across-the-us-heres-where-they-are/ar-AA1mtNHO

In addition it is being reported that 8 locations are being sold to a former executive who intends to operate them as a franchisee.

[TheFugitive]

TGI Fridays abruptly shuttered another 50 locations.  Analysts are expecting that the chain will follow Red Lobster into bankruptcy.

https://www.msn.com/en-us/money/companies/tgi-fridays-suddenly-closes-more-restaurants-here-is-where-they-are/ar-AA1t4Z9V?ocid=BingNewsVerp

[TheFugitive]

TGI Fridays did indeed file for Chapter 11 bankruptcy protection.
They were able to secure debtor-in-possession financing which will keep the
remaining restaurants operating for now.