The American restaurant chain TGI Friday's is heading for bankruptcy, writes Bloomberg.

According to sources within the company, it is now negotiating with lenders to file for bankruptcy protection in the coming weeks in the hope of being able to implement structural changes and save the restaurants from liquidation.

TGI Friday's is one of several American restaurant chains in the so-called "casual dining" segment that are fighting for their survival. Brands such as Red Lobster and Hooters are also on the verge of collapse, according to Bloomberg.

This spring, the company that runs TGI Friday's in Sweden filed for bankruptcy after being forced to close its restaurants in Stockholm.

Source: TT-DI.SE