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International Business Times
International Business Times
Bruce Golding

TGI Friday's Is Latest Fast-Casual Restaurant Chain To Go Bankrupt

TGI Friday Covid-19 BurgerFi NY Pandemic Red Lobster TGI Fridays
A TGI Friday's sign is seen outside a restaurant in Levittown, N.Y., on March 16. 2020. (Credit: Bruce Bennett/Getty Images)

TGI Friday's on Saturday became the latest restaurant chain to go belly-up — and blamed its misfortunes on the COVID-19 pandemic and the company's "capital structure."

In a statement, TGI Fridays Inc. said it filed voluntary bankruptcy petitions that cover the 39 fast-casual restaurants it owns and operates in the U.S.

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