The American restaurant chain TGI Friday’s is headed for bankruptcy, writes Bloomberg.
According to sources within the company, it is now negotiating with lenders to file for bankruptcy protection in the coming weeks in the hope of being able to implement structural changes and save the restaurants from liquidation.
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Friday’s closed its restaurant in Kungsträdgården, Stockholm, earlier this year. Photo: Lisa Arfwidson/SVD/TT Fighting for its survival
TGI Friday’s is one of several American restaurant chains in the so-called “casual dining” segment that is fighting for its survival. Even brands such as Red Lobster and Hooters are on the ropes, according to Bloomberg.
Last spring, the company that runs TGI Friday’s in Sweden was asked to go bankrupt. This since they were forced to close their restaurants in Stockholm.
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