TGI Fridays Franchisor says its stores outside the US are independently owned and are not part of the Chapter 11 process. Normal operations continue in all of its franchise locations, including in the Philippines.
This is AI generated summarization, which may have errors. For context, always refer to the full article.
In a filing with the US bankruptcy court for the Northern District of Texas, the company listed both assets and liabilities in the range of $100 million to $500 million. Rohit Manocha, executive chairman of TGI Fridays, said: “The primary driver of our financial challenges“This restructuring will allow our go-forward restaurants to proceed with an optimized corporate infrastructure that enables them to reach their full potential.”
Bankruptcies Fast-Food Restaurants Food And Beverage Industry Restaurants In Metro Manila United States Business Consumer Issues US &Amp Canada
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
TGI Fridays files for bankruptcyTGI Fridays, an American casual dining chain, said on Saturday it has filed for Chapter 11 bankruptcy protection after grappling with prolonged financial challenges and a collapsed deal with UK-based Hostmore.
Read more »
Brownlee, RHJ all praise for each other as they add new chapter to rivalryLatest Philippine news from GMA News and 24 Oras. News, weather updates and livestreaming on Philippine politics, regions, showbiz, lifestyle, science and tech.
Read more »
Acel closes a chapter of music and memories in farewell concertThe end of an era in an artist’s life doesn’t always come with loud applause. Sometimes, it’s in the quiet realization that a long journey is nearing its end, and something new is about to begin.
Read more »
Linkin Park embarks on a new chapter with ‘From Zero’ album“I only wanted to be part of somethingI only wanted to be part of, part of…” Linkin Park is back, and for many, this feels like reconnecting with an old friend. The band’s new album promises to reignite the raw energy and charisma that brought them to global stardom.
Read more »
Bacolod council urges mayor to increase allowance of senior citizen chapter presidentsSunStar Publishing Inc.
Read more »
Hard Rock Cafe Manila champions feline welfare with Global Cat Day seminarIt’s not every day that a restaurant group best known for burgers and ribs takes on the cause of feline welfare. But on Oct. 16, Hard Rock Cafe Manila, part of The Bistro Group—known for restaurants like Italianni’s and TGI Friday’s—did just that by hosting a Global Cat Day awareness seminar.
Read more »