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TGI Fridays files for bankruptcy in the US

The chain was founded in New York in 1965, its 56 franchises are operating in 41 countries across the globe under the TGI Fridays brand, including Russia

NEW YORK, November 2. /TASS/. The owner of TGI Fridays restaurants has filed for bankruptcy in the United States, the casual dining chain’s press service said.

"TGI Fridays Inc., the owner and operator of 39 domestic restaurants in the TGI Friday's casual dining chain, today filed voluntary petitions under Chapter 11 of the U.S. Bankruptcy Code in the Northern District of Texas," the company said.

The chain, founded in New York in 1965, expects "to use the time and legal protections made available through the Chapter 11 restructuring process to allow the Company to explore strategic alternatives in order to ensure the long-term viability of the brand," it noted.

Fifty-six franchises are operating in forty-one countries across the globe under the TGI Fridays brand, including Russia. Franchise locations both in the US and overseas will continue operating and servicing customers as usual as they are not affected by the bankruptcy process.

According to Bloomberg, Red Lobster, Bucca di Beppo, Rubio's Coastal Grill and Tijuana Flats restaurant chains also filed for bankruptcy earlier this year.

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