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Business / 2 months ago
Cheers to Bankruptcy: TGI Friday's Proves Even Happy Hours Can't Save You From Chapter 11!
In a bittersweet twist of fate, TGI Friday's files for Chapter 11 bankruptcy, proving that even endless appetizers and over-the-top cocktails can't save a sinking ship. As the iconic chain aims to restructure and return stronger, we raise our glasses to the nostalgia of happy hours that now echo with financial uncertainty. Cheers to the memories, and may the cocktails be ever in your favor!
In a shocking turn of events that even a bottomless strawberry daiquiri couldn’t sweeten, TGI Friday’s Inc. has filed for Chapter 11 bankruptcy protection, proving that no amount of "Endless Apps" can save you from financial ruin. The iconic restaurant chain, known for its festive atmosphere and penchant for over-the-top cocktails, submitted its documents in the Northern District of Texas, leaving burger lovers and cocktail connoisseurs alike in a state of disbelief. Reports reveal that the company listed its assets as being somewhere between $100 million and $500 million, which is roughly the cost of one garnish-laden drink in their signature cocktail menu. Simultaneously, the liabilities matched those figures, indicating that TGI Friday's might have been financing their legendary "2-for-1" cocktails a little too ambitiously. Rohit Manocha, the recently installed executive who assumed the role of captain on this sinking ship, stated in an impassioned speech that it was a "difficult but necessary decision" to go bankrupt. He assured, however, that they aimed to "restructure" and "come back stronger," presumably with an even heavier inventory of mini cheeseburgers and mojitos infused with just the right hint of desperation. An anonymous server from a TGI Friday's location expressed his disbelief: "We’ve seen a lot of weird things in this job—people asking for ketchup with their steak, or a customer bringing their own Tupperware for leftovers—but this takes the cake." Echoing this sentiment, many patrons remarked on how "happy hour" somehow missed the memo on "bankrupt hour." Some financial analysts point to the chain's “wings and things” promotion as a key factor in its downfall. “$5 for a dozen wings? The only thing more inflated than those prices was our expectations,” one industry insider quipped. “TGI Friday's was trying to win back customers from home-cooked meals that cost half as much and come without the threat of a foodborne illness.” We reached out to chains like Olive Garden and Applebee’s for comments but were swiftly redirected to their PR teams, who were reportedly busy investigating how to make unlimited breadsticks financially viable. As word spreads of TGI Friday's demise, current and former employees have taken to social media to post their fondest—albeit financially questionable—memories, reminiscing about “those nights we served shots of overpriced syrup” and “the camaraderie forged in chaos over the never-ending quest for a decent tip.” In a final twist, TGI Friday's announced they would still be hosting their weekly trivia night during the bankruptcy proceedings. Because nothing screams “we're financially stable” like asking customers random questions about pop culture while the staff nervously calculates how many more customers are needed to cover the rent. So raise your glasses, folks—whether it be a Long Island Iced Tea or the bittersweet taste of nostalgia—as we toast to TGI Friday's: a chain that taught us all that sometimes, even happy hours end in tears.
posted 2 months ago

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Original title: TGI Friday's files for Chapter 11 bankruptcy

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