Reported 21 days ago
TGI Friday's recent Chapter 11 bankruptcy filing has raised concerns among its franchisees regarding the liability of nearly $50 million in unused gift cards. Franchise owners worry that an influx of customers redeeming these cards, which do not expire, could lead to financial strain if the reimbursements are not appropriately budgeted. The chain plans to honor the gift cards during bankruptcy, but franchisees are seeking assurances for funding to cover potential redemptions.
Source: YAHOO