American restaurant chain TGI Fridays filed for bankruptcy

American restaurant chain TGI Fridays filed for bankruptcy on Saturday. This document was filed in a Texas court.

According to Bloomberg, the company has tentatively estimated its liabilities at $100-500 million. Its assets are approximately the same.

The restaurant chain, founded in New York in 1965, has long faced business problems.

In particular, last week it closed about 50 restaurants. Now the total number of restaurants in the chain is 163.

It is noteworthy that TGI Fridays’ revenue is affected by changing consumer habits of Americans. They are increasingly choosing to eat at home due to very high inflation.

It was previously reported that in Japan, rising food and energy prices have led to the massive closure of cafes specializing in ramen (noodles in broth with various additives), which for the Japanese serves as a popular and affordable alternative to fast food.