Brad Sandler Speaks to Restaurant Dive on TGI Fridays Bankruptcy Filing
Restaurant Dive
November 4, 2024
Brad Sandler was recently quoted by Restaurant Dive about TGI Fridays’ decision to file for chapter 11 bankruptcy protection. Prior to the bankruptcy filing, Fridays was struggling to get back to the numbers they had post-Covid. With the end of the Covid rent deferrals, Brad noted that the chapter 11 filing is one of the safest ways for rent-burdened businesses to improve their situation.
Brad also commented on the need for these companies to file bankruptcy: “To the extent that there are a large number of unprofitable locations, really the only way to deal with them effectively and, frankly, efficiently is through a bankruptcy proceeding.... In bankruptcy, a company can reject unprofitable leases.”
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