TGI Friday's chain files for Chapter 11 bankruptcy closes ALL Houston locations
Nov 06, 2024
HOUSTON (KIAH) — The Dallas-based dining chain TGI Fridays filed for bankruptcy last week. After closing many branches this year, the company is now working to maintain its long-term brand success. As a result of these challenges, ALL of the chain’s Houston locations are set to close.
According to TGI Fridays’ executive chairman, the chain’s troubles started when the COVID-19 pandemic began. In turn, the pandemic only exacerbated a gradual decline of the food chain, as the chain’s customer base and tastes changed over the years.
As a result, the chain has been struggling with a shrinking customer base that does not visit as often as they did in the past. To top it all off, the tastes of the remaining patrons have changed as well. All of this in combination has led TGI Fridays to file for bankruptcy protection.