Nationwide Restaurant With Five Texas Locations Files for Bankruptcy

Unfortunately, it seems that each week we have to report on another nationwide chain of restaurants, stores, and other popular brands either closing its doors or filing for bankruptcy protection.

We reported last week about how Wendy's fast food restaurant is closing 140 locations and now we have just received news that another popular casual dining restaurant is filing for bankruptcy which could affect some of its locations.

The news was released over the weekend that TGI Fridays Inc. filed for Chapter 11 over the weekend on November 2, 2024. According to the company's website, TGI Friday's has 163 locations across the United States with Flordia having the most with 15 locations followed by Maryland and Illinois with 14 locations.

As for Texas, there are only five locations and it may shock you that they are all in the same city. Not only are they all in the same city, but they are all located inside the same building. All five of the TGI Fridays in Texas are located inside of the Dallas-Fort Worth International Airport. How crazy is that?

As big as Texas is and according to TGI Friday's website, the only five locations in the Lone Star state are in the Dallas-Fort Worth Airport.

According to CNN, TGI Fridays said In a statement,

The company said in a statement that fallout from the Covid-19 pandemic was the “primary driver of our financial challenges” and it will use the Chapter 11 process to “explore strategic alternatives in order to ensure the long-term viability of the brand.”

 

John Bringardner, head of Debtwire, told CNN. He added that the parent company “will likely have to close or sell unprofitable locations as part of the restructuring.”

So could the Texas locations of TGI Fridays be in jeopardy?  Stay tuned.