Why TGI Fridays filed for bankruptcy

A Deeper Dive

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9d ago 31:21

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What is happening with TGI Fridays?

This week’s episode of the Restaurant Business podcast A Deeper Dive features a discussion on the recent Chapter 11 bankruptcy filing by the casual-dining chain TGI Fridays. RB Senior Editor Joe Guszkowski joins me on the podcast to discuss the situation.

TGI Fridays’ filing over the weekend was hardly a surprise, given the chain’s years of decline and its apparent death spiral this year.

The company recently lost control of much of its business after the trustee on its whole business securitization terminated it as the manager of most of its assets.

TGI Fridays also failed to secure a sale to its U.K. operator, which also ended up seeking debt protection in that country.

Joe and I talk about these issues and why Fridays filed for bankruptcy and what it says about the casual-dining sector. We talk about the causes of the filing and what will happen with the company from here. We also talk about the kinds of things that work in this environment. Because casual-dining chains can win in an environment like this.

We’re talking Fridays on A Deeper Dive so please check it out.

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#Business #Restaurant Business Magazine #Dive Into Discussion