The American restaurant chain TGI Fridays is heading for bankruptcy, writes Bloomberg.
According to sources within the company, they are now negotiating with lenders to apply for bankruptcy protection in the coming weeks, hoping to implement structural changes and save the restaurants from liquidation.
TGI Fridays is one of several American restaurant chains in the so-called "casual dining" segment that are struggling to survive. Even brands like Red Lobster and Hooters are on the brink of collapse, according to Bloomberg.
In the spring, the company that operates TGI Fridays in Sweden went bankrupt. This was after being forced to close its restaurants in Stockholm.
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