TGI Fridays files for bankruptcy, as sit-down chain restaurants face broad challenges
CBSN
Restaurant chain TGI Fridays filed for bankruptcy protection Saturday, saying it is looking for ways to "ensure the long-term viability" of the casual dining brand after closing many of its branches this year.
The Dallas-based company filed for Chapter 11 bankruptcy protection in a Texas federal court.
TGI Fridays Executive Chairman Rohit Manocha in a statement said the "primary driver of our financial challenges resulted from COVID-19 and our capital structure."
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