TGI Fridays Closes Houston Outlets Amid Bankruptcy and Industry Struggles
TGI Fridays has filed for Chapter 11 bankruptcy protection, citing financial challenges exacerbated by COVID-19 and a changing dining landscape. The Dallas-based chain, once a staple of American casual dining, has seen a significant decline in its U.S. locations, now down to 163 from 269 last year. The company plans to restructure to ensure long-term viability, with only five locations remaining in Texas at DFW Airport. The bankruptcy does not affect its international franchises, which remain open. The move reflects broader struggles in the sit-down restaurant sector.