Skip to player
Skip to main content
Skip to footer
Search
Connect
Watch fullscreen
2
Bookmark
Share
Add to Playlist
Report
TGI Friday’s is bankrupt
Fortune
Follow
11/4/2024
TGI Friday’s is the latest casual dining chain to go bankrupt.
Category
🤖
Tech
Transcript
Display full video transcript
00:00
TGI Fridays has officially gone bankrupt.
00:03
The chain filed for bankruptcy on November 2nd, citing financial challenges that resulted
00:07
from COVID-19 and their capital structure.
00:10
The company is trying to work out options to continue funding its restaurants in the
00:13
meantime, but listed both assets and liabilities between $100 million and $500 million.
00:20
Founded in 1965, TGI Fridays operated 601 restaurants in the US during its peak in 2008,
00:28
but now only has 163 restaurants, not including the hundreds of TGI Friday-themed restaurants
00:34
around the world.
00:35
And they're not the only restaurant to have recently declared bankruptcy.
00:38
Red Lobster, Buca di Beppo, Tijuana Flat, and Rubio's Coastal Grill are a few chains
00:43
who are feeling the pressure as consumers switch to cheaper options or eating at home.
Recommended
0:34
|
Up next
TGI Friday’s outstanding gift cards are a $50 million problem
Fortune
11/6/2024
8:40
Red Lobster's fall is a case study on how to kill a business
Insider
7/18/2024
0:53
Tiny but Mighty Pomeranian Chases Black Bear Out of Home
People
yesterday
1:13
Multiple People Injured in New York City’s Times Square After Gunman Opens Fire, 17-Year-Old Suspect Arrested
People
yesterday
0:51
Instacart Reports Better-Than-Expected Q2 Earnings, Shares Move Higher
Benzinga
yesterday
0:46
Firefly Launches Hot IPO, Backed by $1.1B in Contracts and NASA Moon Missions
Benzinga
yesterday
0:50
Pinterest Delivers Revenue Beat and Gen Z Surge, But Tariff Concerns and EPS Miss Weigh on Shares
Benzinga
yesterday
1:20
Queen Elizabeth Rejected Princess Beatrice’s Original Name as ‘Too Yuppie’ — Find Out What It Was!
People
yesterday
0:40
How to Make Skillet Corn Lasagna
Food and Wine
3 days ago
0:55
How to Make Dubai Chocolate Tiramisu
Food and Wine
4 days ago
0:43
Does a Cherry Belong in an Old Fashioned?
Food and Wine
6 days ago
0:51
Figma’s CEO went from college dropout to 33-year-old billionaire
Fortune
yesterday
1:00
Apple CEO gifts Trump an engraved glass plaque mounted on 24-karat gold
Fortune
2 days ago
0:50
Which CEOs do you trust?
Fortune
2 days ago
1:00
How Nvidia’s CEO went from Denny’s dishwasher to billionaire founder
Fortune
3 days ago
1:06
Who is the most powerful person in business?
Fortune
5 days ago
1:53
A peek behind Amazon's new Alexa
Fortune
5 days ago
0:52
Fed holds rates steady but sees first double dissent in over 30 years
Fortune
7/30/2025
8:51
How Wayfair’s Betting on AI to Future Proof its $12B Empire
Fortune
7/30/2025
0:25
First $1 billion gaming company "built by one person" is coming soon, GOAT Gaming founder predicts
Fortune
7/30/2025
0:53
ChatGPT's disclaimer comes with risks, Al professor says
Fortune
7/30/2025
1:17
Global Al safety isn't one-size-fits-all, Microsoft researcher says
Fortune
7/29/2025
1:05
Amazon or Walmart: Who brings in more revenue?
Fortune
7/29/2025
1:20
Bank CEO knows her job is also at risk from Al
Fortune
7/29/2025
0:53
Indeed VP on the must have skill in the Al future of work
Fortune
7/29/2025