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 the fashionable concatenation is considering bankruptcy amid mounting debts.

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

That's a crisp diminution from implicit 250 locations astatine the commencement of the year. 

This latest question of closures follows 36 shutdowns successful January, several much implicit the summer, and astir a twelve past month.

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

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

The fashionable casual eating concatenation is the latest to conflict arsenic Americans, frustrated with higher paper costs, opt to devour 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 the archetypal casual eating chains.

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

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

Despite the change, the marque thrived some successful the 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 with Hostmore, which runs 89 TGI sites successful the UK.  

But the woody fell apart, arsenic did the program to make a larger steadfast listed successful London.

Casual eating chains similar TGI Fridays and accelerated nutrient giants similar McDonald’s person experienced declining sales arsenic Americans propulsion backmost against two years of paper terms increases by cutting backmost connected spending. 

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

Red Lobster unopen astir 100 locations in May and filed for bankruptcy, portion 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 the DailyMail.com erstwhile asked for a remark connected the latest closures, its imminent bankruptcy oregon which restaurants person shut.