Economics

433 readers

131 users here now

founded 1 year ago

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

submitted 3 days ago by MicroWave to c/economics

12 comments fedilink hide all child comments

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.

you are viewing a single comment's thread
view the rest of the comments

[–] [email protected] 6 points 3 days ago

I worked at a Red Lobster in the early 2000s and my job was to portion out "vegetable medley" into plastic bags. These bags were kept in big trays in the refrigerator, and they would be pulled and thrown into the microwave for a minute or so. They'd dump the vegetables out of the bag and onto the plate and then just throw the bag on the floor. Cleaning up after a shift was like bulldozing filthy plastic bags.

Olive Garden is/was owned by the same group, so I'm sure it was spiritually similar there.