Economics

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Restaurant chain TGI Fridays files for bankruptcy protection (www.theguardian.com)

submitted 1 month ago by MicroWave to c/economics

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Summary

TGI Fridays filed for Chapter 11 bankruptcy. The once-popular sit-down restaurant has faced declining customer interest, reflecting a broader trend impacting casual dining. With just 163 U.S. locations—down from 269 last year—the chain has closed numerous outlets and seen U.S. sales drop to $728 million in 2023. While TGI Fridays operates only 39 U.S. locations directly, global franchised locations remain unaffected, with independent operators managing 461 restaurants across 41 countries under a separate franchising entity.

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[–] [email protected] 7 points 1 month ago (1 children)

Maintaining all those microwaves is expensive.

[–] chowdertailz 2 points 1 month ago

Worked at an Applebee's back in the 00's.

Every cook is named Mike.