If you really have a hankering for Loaded Potato Skins from TGI Fridays, the only place you’ll be able to find some is inside DFW Airport; those are the only spots that still exist in North Texas.
And a new lawsuit alleges that they only have their executives to thank for that.
One of the trustees in TGI Fridays’ bankruptcy case has filed a lawsuit against multiple executives and companies, “accusing them of running the once mighty business into the ground,” according to Chron.
Stephanie Wickouski, the creditor trustee of the TGIF Creditor Trust, is accusing the defendants of “of weakening TGI Fridays by saddling it with debt and asset sales during their acquisition of the restaurant chain, and of benefiting themselves at the expense of the overall brand. All of this together, Wickouski alleges, led to the restaurant chain's termination as a franchise-system manager. As a result, she claimed the company lost a critical source of income, thus losing its ability to manage its own debt and torpedoing a merger with UK-based hospitality company Hostmore.”
The complaint states, “The financial demise of TGI Fridays, Inc. (“TGIF”) is the result of rampant self-dealing and gross mismanagement, enabled by complicit directors and officers and facilitated by its private equity sponsor, TriArtisan. Ultimately, TGIF’s creditors were left holding the bag.”
Wickouski is seeking monetary damages and interest. The defendants have until Dec. 2 to offer an answer to the complaint.
Meanwhile, TGI Fridays’ bankruptcy case, which they filed in November 2024, is still ongoing.
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