Restaurant chain TGI Fridays is worried they may be on the hook for nearly £50 million in unclaimed gift vouchers if their bankruptcy proceedings don’t go smoothly. The amount of unused gift cards issued by the struggling chain- which have no expiration date- far exceeds the amount of cash they have access to,

TGI Fridays Inc., the company that owns 39 of the restaurant chain's locations across the U.S., filed for Chapter 11 bankruptcy protection on Saturday. Concerns about $49.7 million in outstanding gift cards were raised by more than 60 TGI Fridays ...

According to Reuters, the amount of unused gift cards — $49.7 million, to be exact — exceeds the company’s available cash, even after the $5.9 million TGI Fridays received to fund its bankruptcy restructuring plan. Some of the gift cards are more than 20 years old, according to court documents.

The chain’s issues were compounded by COVID, but dizzying leadership changes and a focus on becoming an entertainment (and sushi) destination haven’t helped

TGI Fridays franchisees are worried that they could be on the hook for $49.7 million in outstanding customer gift card obligations if the company's bankruptcy doesn't go smoothly, an attorney for franchisees said Monday.

Franchisees are concerned the restaurant chain will be unable to reimburse them for cashed-in vouchers dating back as early as 2003.

After quietly closing several locations, the casual American dining chain TGI Fridays filed for Chapter 11 bankruptcy protection on Saturday.

The company filed for Chapter 11 bankruptcy protection on Saturday but said its restaurants would remain open while it works on a “restructuring process.”

Fridays is the latest restaurant chain to file for bankruptcy protection in a year where customers are eating out less and operating costs are on the rise. American casual dining restaurant chain TGI Fridays has filed for Chapter 11 bankruptcy protection,

Things aren’t exactly festive at TGI Fridays. That’s because the bar-and-grill chain is grappling with a major issue in its bankruptcy case: Unused gift cards.

At the end of 2023, TGI Fridays had 269 open locations listed on its website. By Nov. 2, it had 163. The chain has just nine locations left in Ohio, according to its website. Fair