Popular restaurant chain abruptly closes almost 50 locations in a week as bankruptcy rumors swirl

TGI Fridays shut down astir 50 locations past week - amid reports nan celebrated concatenation is considering bankruptcy amid mounting debts.

As of Monday, nan concatenation operates 164 restaurants, down from 213 conscionable a week ago, according to its online shop locator. 

That's a crisp diminution from complete 250 locations astatine nan commencement of nan year. 

This latest activity of closures follows 36 shutdowns successful January, several much complete nan summer, and astir a twelve past month.

No charismatic database has been released but section media reports show that restaurants person shuttered successful California, Ohio, New York, New Jersey, Florida, and Missouri.

TGI Fridays has now afloat near 2 cities - Columbus, Ohio, and Buffalo, New York - aft nan latest closures.   

The celebrated casual eating concatenation is nan latest to struggle arsenic Americans, disappointment pinch higher paper costs, opt to eat astatine location more. 

Other chains, including Red Lobster, Applebee's and Hooters, have besides closed locations.

Founded successful New York City successful 1965 arsenic a laid-back singles bar, TGI Fridays evolved into 1 of nan first casual eating chains.

Through nan 1960s, 1970s and 1980s, it was known for its pioneering nutrient and cocktails. 

However, nan 1990s saw a displacement successful its image, arsenic it transitioned from a nightlife spot for young professionals to a celebrated eating destination for families. 

Despite nan change, nan marque thrived some successful nan U.S. and internationally, expanding to much than 650 locations crossed 51 countries. 

The US limb - known arsenic TGI Fridays Inc - was owed this year to merge pinch Hostmore, which runs 89 TGI sites successful nan UK.  

But the woody fell apart, arsenic did nan scheme to create a larger patient listed successful London.

Casual eating chains for illustration TGI Fridays and accelerated nutrient giants for illustration McDonald’s person knowledgeable declining sales arsenic Americans push backmost against two years of paper value increases by cutting backmost connected spending. 

Worst deed person been nan older, much accepted chains that person not modernized.  

Red Lobster unopen almost 100 locations in May and revenge for bankruptcy, while Applebee's unopen 35. 

Meanwhile, it emerged successful September that Hooters is battling $300 cardinal of debts. Earlier this year, it closed astir 40 'underperforming' restaurants. 

TGI Fridays did not respond to nan DailyMail.com erstwhile asked for a remark connected nan latest closures, its imminent bankruptcy aliases which restaurants person shut.