TGI Fridays Suddenly Bankrupt – Only 14 Illinois Locations Remain

It's been rumored, but is now a reality. TGI Fridays has declared bankruptcy and 50 restaurants have now been closed this week. Only 14 Illinois locations remain open.

Nation's Restaurant News is reporting that TGI Fridays declared Chapter 11 bankruptcy early Saturday morning, November 2. Just a few days ago, the chain suddenly closed 50 restaurants.

I checked the TGI Fridays restaurant locator page and as of this writing, only 14 Illinois locations remain open now:

• Effingham
• Chicago
• Darien
• Aurora
• Tinley Park
• Bedford Park
• Oswego
• Gurnee
• Oak Park
• Oak Lawn
• Rosemont
• Bourbonnais
• Joliet
• Fairview Heights

Will any of the existing TGI Fridays restaurants in Illinois close now that bankruptcy has been declared?

According to the report above, the short term answer is now as it says that current TGI Fridays that have not closed already will remain open during the bankruptcy proceedings as the brand will try to formulate a way forward that will allow them to remain.

Time will tell if TGI Fridays comes out of bankruptcy able to keep current restaurants open considering how challenging this year continues to be for the food service industry.