
(DailyEmailNews.com) – Once a beloved American dining staple, TGI Fridays is facing a harsh reality as it fell victim to Bidenomics.
This latest blow to traditional family restaurants comes as leftist policies and economic mismanagement continue to ravage small businesses and middle-class wallets.
Specifically, TGI Fridays is shuttering 49 locations across the East Coast, Southeast and Midwest, leaving loyal patrons and hardworking employees in the lurch.
TGI Fridays has now reduced to 164 restaurants nationwide, down from 270 at the start of the year.
The dramatic downsizing paints a grim picture of American businesses’ struggles in today’s challenging economic landscape.
Although the company tries to sugarcoat the situation by calling it “an era of transformation,” the truth is far more sobering.
These closures are a direct result of decreased consumer spending amid skyrocketing inflation, which is forcing families to opt for home-cooked meals instead of dining out.
The situation is so dire that TGI Fridays is reportedly on the brink of bankruptcy. According to industry insiders, the company is “huddling with lenders” and may file for Chapter 11 bankruptcy as soon as November.
The move would allow the company to restructure debt, reject unprofitable leases and potentially find a buyer for parts of the business.
This is not just about one restaurant chain struggling. It is a symptom of a larger problem plaguing America’s dining industry.
Other beloved chains like Red Lobster and Buca di Beppo have also filed for bankruptcy this year due to changing consumer habits and suffocating inflation.
These closures represent more than just lost dining options: they are lost jobs, lost tax revenue and lost pieces of American culture.
The decline of TGI Fridays is particularly symbolic. Founded in 1965 in New York City, it embodied the spirit of American entrepreneurship.
Although the company became a global success story with over 600 restaurants worldwide, it has been forced to close half of its U.S. locations in just a decade.
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