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Mealeys

MLex

TGI Friday's Inc.

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Case overview

Case Number:

8:24-bk-80069

Court:

Texas Northern

Nature of Suit:

Firms

Companies

Government Agencies

Sectors & Industries:

  1. January 01, 2025

    Food & Beverage Cases To Watch In 2025

    Food and beverage attorneys have no shortage of interesting issues to follow in 2025, from Albertsons turning on Kroger after their proposed $25 billion merger was blocked, to new state laws covering the life cycle of single-use packaging, and claims over heavy metals and "forever chemicals" contaminating food.

  2. December 16, 2024

    Restaurants Struggled In 2024 As Costs Rose, Visits Fell

    Many restaurants have faced challenges this year, grappling with the lingering effects of the COVID-19 pandemic, rising inflation and difficulty passing costs onto increasingly price-sensitive patrons — pressures that are expected to persist into the next year, experts told Law360.

  3. November 25, 2024

    Alex Jones Blasts Onion Bid, FTX Tech Deputy Avoids Prison

    Alex Jones and a backup bidder linked to his Chapter 7 are challenging the sale of his Infowars website to The Onion, alleging flaws in the auction process. A former FTX's tech deputy can avoid prison time for assisting the FTX fraud case by exposing programming flaws; attorneys who have represented Purdue Pharma can receive $21.2 million in fees for its work during summer. This is the week in bankruptcy.

  4. November 21, 2024

    How COVID Put TGI Fridays On The Path To Bankruptcy

    After a tough five years in which TGI Fridays saw two scuttled acquisitions, a shrinking footprint and attempts to offset COVID-19 pandemic losses, the dining chain known for its peppy atmosphere, comfort food and cocktails became one of the latest restaurant groups to hit Chapter 11.

  5. November 20, 2024

    TGI Fridays Gets OK On Bid Process As It Seeks Out Buyers

    A Texas bankruptcy judge on Wednesday approved TGI Fridays' procedures for contacting and selecting prospective buyers for its assets after the struggling restaurant chain said it was in discussions with at least 21 potential bidders.

  6. November 06, 2024

    Meet The Attys Behind TGI Fridays' Bankruptcy

    Casual dining chain TGI Fridays Inc. has assembled a team of lawyers from Ropes & Gray LLP and Foley & Lardner LLP to help it with the Chapter 11 it initiated in Texas to cope with almost $151 million in debt and pursue a sale.

  7. November 05, 2024

    Catching Up With New Bankruptcy Case Action

    Several companies sought Chapter 11 bankruptcy protection this week, reflecting diverse challenges across industries. TGI Fridays and Rainbow Production Services cited economic pressures and a post-COVID downturn, while Star Transportation and New Jersey nonprofit CarePoint Health Systems pointed to rising costs and funding issues that intensified after the pandemic. 

  8. November 04, 2024

    TGI Fridays Restaurant Chain Hits Ch. 11, Blaming Pandemic

    Casual dining chain TGI Fridays Inc. filed for Chapter 11 protection in Texas with nearly $151 million in debt, blaming the COVID-19 pandemic and its capital structure and planning a sale within two months.