TGI Fridays files for bankruptcy, planning to close most stores, keeping only 39 open.

TGI Fridays, a popular casual dining chain, has filed for Chapter 11 bankruptcy, planning to keep only 39 of its corporate-owned stores open. This move comes after the restaurant industry faced challenges like rising costs and changing consumer preferences, leading to closures of underperforming locations. Other chains like Denny's and Wendy's are also adapting by reevaluating their strategies.

November 11, 2024
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