"The next steps announced today are difficult but necessary actions to protect the best interests of our stakeholders, including our domestic and international franchisees and our valued team members around the world," Manocha stated. T he pandemic's impact on in-person dining was profound, forcing many restaurants to either pivot their business models or shutter entirely. TGI Fridays, a stalwart of the casual dining scene, faced intensified competition from newer, more agile dining options such as Shake Shack, which have captured consumer interest with their fast-casual appeal. T his bankruptcy filing places TGI Fridays alongside other well-known brands that have faced similar financial difficulties this year, including Red Lobster, Big Lots, Tupperware, Express, and Joann. The challenges facing TGI Fridays reflect broader trends impacting the industry, characterized by changing consumer preferences and increased competition.