TGI Fridays Files for bankruptcy: US casual dining icon blames pandemic for financial struggles

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WASHINGTON, Nov 3 — Casual American dining chain TGI Fridays filed for Chapter 11 bankruptcy yesterday in the US state o...

Manocha said the Covid-19 pandemic and the company’s capital structure were the primary reasons for its financial issues.“This restructuring will allow our go-forward restaurants to proceed with an optimised corporate infrastructure that enables them to reach their full potential,” he said.

TGI Fridays Inc, which filed for bankruptcy, owns and operates 39 restaurants in the United States.

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Article Details

Category: EconomyBusiness

Markets: MalaysiaUnited States

Topics: Bankruptcy Bankrupt TGI Fridays

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-03 @ 12:13:01 (4 days ago)

News Timezone: GMT +8:00

News Source URL: malaymail.com

Language: English

Article Length: 208 words

Reading Time: 2 minutes read

Sentences: 10 lines

Sentence Length: 21 words per sentence (average)

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Copyright Owner: © Malay Mail

News ID: 23454513

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