lobster

TGI Fridays follows in the footsteps of Red Lobster and Buca di Beppo chains, which filed for Chapter 11 bankruptcy in the past months.

In September, Red Lobster received court approval for its restructuring plan to continue operating under a new firm, RL Investor Holdings LLC.

TGI Fridays’ woes are part of a dominant trend that has also affected American casual restaurant chains such as Red Lobster and Denny’s.

Red Lobster filed for bankruptcy protection earlier this year after an all-you-can-eat shrimp fiasco contributed to financial losses; Rubio’s Coastal Grill did the same following the abrupt closure of 48 locations in California.

But more recent history suggests something different: Foods such as sushi, offal and even lobster became desirable not despite but because of their novelty and difference.