Popular Restaurant Chain With 7 MA Locations Facing Bankruptcy

Massachusetts is very familiar with the fact that the restaurant industry has been having a tough time over the past several years. Financial distress has been a factor due to a variety of reasons including people not dining out as much as disposable income has become more reduced these days.

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This year alone Massachusetts has experienced a number of restaurant closures including Friendly's in Greenfield, Chili's in Pittsfield, and Denny's in Worcester just to name a few. Some restaurants have been able to test the time but have had to scale back their menus to stay afloat.

Another restaurant that closed about half of its Massachusetts locations earlier this year is TGI Fridays. The chain restaurant closed eateries in Dedham, Danvers, Marlboro, Mansfield, North Attleboro and Seekonk.

Now there's more news on the TGI Fridays front. According to The Street, the Dallas-based franchisor is lining up debtor-in-possession financing with its lenders ahead of a Chapter 11 bankruptcy filing that could happen in the next several days and is banking on a DIP loan to fund its operations while it proceeds through bankruptcy and emerges as a going concern.

While there has been no official announcement of Massachusetts restaurant closures it's no secret that TGI Fridays is facing financial troubles and more locations could be on the chopping lot. TGI Fridays has seven locations in Massachusetts including the following:

1626 Tremont St. Boston, (617) 734-1047
60 Forbes Rd. Braintree, (781) 848-3133
33 Mystic View Rd. Everett, (617) 387-5226
90 Pleasant Valley St. Methuen, (978) 794-8443
70 Worcester Providence Turnpike, Millbury, (508) 865-9189
455 State Rd. North Dartmouth, (508) 984-1083
2 Hawes Way Stoughton, (781) 341-1712

We'll keep you updated as more information becomes available.

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