The casual dining chain TGI Fridays has filed for Chapter 11 bankruptcy protection, marking a significant turn in its nearly 60-year history as a popular dining destination. Blamed for the financial challenges are factors such as the COVID-19 pandemic, consumer cost concerns, and heightened competition in the restaurant industry. Along with the bankruptcy filing, TGI Fridays has closed numerous locations, with reports indicating over 60 restaurants shuttered recently, including 50 closures before this filing. The company aims to use this process to ensure its long-term viability as it navigates ongoing struggles in the sit-down restaurant sector.