TGI Fridays, like many restaurants, has been hard hit by the pandemic’s economic impact. The operator of TGI Fridays, Briad Group, filed for Chapter 11 bankruptcy protection to help manage its debts and financial responsibilities while it tries to maintain its operations. The intention behind a Chapter 11 filing is typically to keep the business alive while restructuring occurs. This allows the operators flexibility to negotiate with creditors and other parties for resolution of debt and to potentially emerge from bankruptcy in a stronger financial position.
TGI Fridays operator files for Chapter 11 bankruptcy amid financial woes
