TGI Fridays bankruptcy: What this means for its restaurants

By Newsweek | Nov 2, 2024 at 03:54 PM EST

TGI Fridays Inc. filed for Chapter 11 bankruptcy, closing 50 US locations. The brand's intellectual property is excluded, and operations for franchisees remain unaffected. The pandemic and capital structure were cited as financial challenges. The company aims to restructure for long-term success amid industry struggles.

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