TGI Friday's Bankruptcy Talks

(Reuters) – Casual dining operator TGI Friday's is in talks to prepare for a Chapter 11 bankruptcy filing, according to a report by the Wall Street Journal on Thursday, citing sources familiar with the matter.

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

An independent auditor stated in June that the Dallas-based restaurant chain was running out of funds to meet its debt obligations.

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