This week, Nation’s Restaurant News highlighted new menu items from popular chains McDonald’s, Arby’s, and Taco Bell.
Although Halloween has passed, the festive spirit lingered into the weekend. Velvet Taco introduced a Halloween-themed taco called the Haunted Harvest, though it primarily features pumpkin spice.
In more serious news, TGI Fridays filed for Chapter 11 bankruptcy early Saturday morning, just days after closing nearly 50 restaurants. This follows earlier closures in January when the casual dining chain shut down another 36 underperforming locations. Currently, TGI Fridays operates only 39 company-owned restaurants in the U.S., alongside franchises managed by 56 franchisees worldwide, down from 233 restaurants at the end of 2023.
Additionally, eight Applebee’s locations in the Kansas City area have closed, leaving just two remaining in that market.
These closures were sudden and affected locations in Kansas City, Mission, Overland Park, Raytown, Olathe, Lee’s Summit, and Leavenworth. All these restaurants were operated by Apple Central KC LLC, which recently filed for Chapter 11 bankruptcy protection in Kansas.
TGI Fridays’ bankruptcy filing is attributed to ongoing financial struggles exacerbated by the COVID-19 pandemic. The chain aims to use this restructuring process to explore options for long-term sustainability. Despite these challenges, all TGI Fridays restaurants will remain open during the bankruptcy proceedings.
As casual dining chains face increasing competition from faster and more affordable dining options, TGI Fridays joins other establishments like Red Lobster and Buca di Beppo that have also sought bankruptcy protection recently.
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