• 2 minutes ago
TGI Friday’s is worried it won’t have enough cash if customers redeem $50 million in outstanding gift cards that don’t expire.

Category

🤖
Tech
Transcript
00:00TGI Friday's might need to add a $50 million problem to their financial woes.
00:05The chain is worried they won't have enough cash if customers redeem the millions in outstanding
00:09gift cards that don't expire.
00:11TGI Friday's filed for Chapter 11 bankruptcy last week and the cards were a liability as
00:16they try to sell themselves out of bankruptcy.
00:18And some cards even date back to 2003 according to court filings.
00:22While the chain isn't expecting all gift card holders to cash in on free burgers and fries,
00:27there is some concern among franchisees that the company won't be able to scrounge together
00:31the funds once some cards are cashed in.

Recommended