TGI Fridays files for bankruptcy protection as sit-down restaurant struggles continue

DALLAS (AP) -- Restaurant chain TGI Fridays said Saturday it has filed for bankruptcy protection as it looks for ways to "ensure the long-term viability" of the casual dining brand. The Dallas-based company filed for Chapter 11 bankruptcy protection in a Texas federal court. TGI Fridays Executive Chairman Rohit Manocha in a statement said the "primary driver of our financial challenges resulted from COVID-19 and our capital structure." Sit-down chain restaurants have more broadly faced challenges in recent years as diners choose to get food delivered or visit upscale fast food chains.