TGI Fridays Inc., the company that operates the eponymous casual dining chain, has filed for Chapter 11 bankruptcy as it navigates challenges stemming from the COVID-19 pandemic shutdowns and shifting consumer preferences.
The voluntary petitions were filed in the Northern District of Texas on Nov. 2, the company said in a statement, in which it noted that all 39 corporate-owned restaurants would remain open and continue to serve customers as the brand explores “strategic alternatives” that would allow it to ensure long-term viability.
