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TGI Friday’s prepares for bankruptcy filing, WSJ reports

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(Reuters) -Casual dining operator TGI Friday’s is in talks to prepare for Chapter 11 bankruptcy filing, the Wall Street Journal reported on Thursday, citing people familiar with the matter.

The company is expected to file for bankruptcy in a Texas court within days, according to the report. The situation remains fluid, and any filing could still be delayed or tabled, the WSJ reported.

An independent auditor of TGI Friday’s said in a statement in June that the Dallas-based restaurant chain owner was running out of funds to meet its debt obligations, the WSJ reported

TGI Friday’s did not immediately respond to a Reuters request for comment.

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