TGI Fridays, a popular American casual dining chain, has filed for Chapter 11 bankruptcy protection due to financial challenges exacerbated by the COVID-19 pandemic and a failed deal with UK-based Hostmore. The company, privately owned by TriArtisan Capital Advisors, operates 39 domestic restaurants and is committed to maintaining operations. The restructuring aims to optimize corporate infrastructure and allow restaurants to reach their full potential. Despite the bankruptcy filing, TGI Fridays franchise locations in the U.S. and internationally will continue normal operations, as they are independently owned and not part of the Chapter 11 process.
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