Popular Chain Restaurant Declares Bankruptcy Right After Closing More NJ & PA Locations

I hope this isn't the end of TGI Fridays.

The iconic casual dining chain, known for its lively atmosphere, has officially filed for Chapter 11 bankruptcy, according to AP, confirming rumors that the move was inevitable.

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The restaurant chain has been closing locations since 2023 hoping to save it from its financial woes, closing even more abruptly last week, including many in New Jersey and Pennsylvania.

Among the New Jersey locations closed are Hamilton (Mercer County), Cherry Hill, Bridgewater, North Brunswick, Piscataway, and Watchung.

The Langhorne location, near the Oxford Valley Mall, was among the Pennsylvania restaurants shut down.

In a statement, Executive Chairman Rohit Manocha explained that the restaurant’s financial troubles have a lot to do with the effects of the COVID-19 pandemic.

The pandemic hit so many sit-down restaurants hard, as many people got their food delivered or chose fast-casual options places like Chipotle and Shake Shack.

TGI Fridays tried to adapt by expanding into the delivery market with “ghost kitchens,” which only make food for delivery,  with no dine-in option.

But, even with that help, TGI Fridays had trouble bouncing back.

TGI Fridays isn’t the only one.

Other well-known chains, like Red Lobster and Buca di Beppo, have also filed for bankruptcy this year.

TGI Fridays owns and operates only 39 restaurants in the U.S. but licenses out hundreds of locations worldwide, according to the article.

According to court filings, one of its largest creditors is DoorDash, a popular food delivery service, that’s become crazy popular in the past few years.

Who knows what will happen but, I'd hate to see TGI Fridays close for good.

READ MORE: These 6 NJ Towns Are Among the Most Expensive in the U.S. 

I've made so many memories there...hanging out with friends, going on dates, and enjoying meals with my family.

I'll keep you posted.