It's the same story over and over again in USA these days. Private Equity companies buying great businesses making profits and turning it into the ground.
@@homewall744 Yes, because they wanna squeeze out whatever value was last of the company. And of course, borrow home a bunch of money and leave it more in debt.
It used to be THE place to go, had my 21st birthday at TGIFs, kept going into the 2000s, then a lot of competition arrived, quality and service ( but not prices ) dropped noticeably and then I stopped altogether.
I ate at tgi Fridays once when I was a teenager, and I didn’t find it difficult to never return. I’m not surprised about the bankruptcy but it sucks for the remaining franchise owners.
@@chiquita683 you're nuts if you think a random internet trend destroyed a business. It's due to a mix of macroeconomics and horrible high level company mismanagement, get your head out of the gutter.
The only places where I see TGIF succeed are in airports. They seem more common there. I ate there recently and the food was very average and overpriced ($12 for a hamburger).
Their whiskey glaze sauce is super good with their ribs, but everything else is trash. Fried shrimps and fries were mid. I also like that they sold solid strawberry lemonade.
McDonald's in the US is so much lower quality in comparison to what some other countries have at their McDonalds. US food standards are abysmal in a lot of areas and local owners penny pinch and treat their workers like dirt for profits.
I frequented Friday's in the 80s. There was one close to work and a couple times a week, all the 20 somethings from my building would head to Friday's. That was the norm back then, friends went out to bars together. My data might be skewed but I've worked with tons of 20 somethings over the past couple decades and they rarely go to bars. The standard thing is a small group will go to someone's home and order in and then play video games.
I was just about to comment that the food was just okay here where I live, but the service was the worst that I've ever had and all of their yelp reviews said the same thing. It almost felt like the management trained their staff to be unpleasant and terrible 🤨
I had no idea they were going into bankruptcy . I drove around the corner last month and then instead of seeing lights from the Friday's shining at night I saw darkness and plywood covering all the windows and an empty parkin lot. WOW. All of the sudden. I remember I had stopped seeing families going there to seeing only bikers. That was a clear sign of the end.
Over charged for 2 glasses of wine -- I understand for a rizzy place but TGIF? Meal was standard for a diner. Never understood its appeal. The 1980s wass the creation of those kind "edgy" restaurants so like the others it ran its course -- raise, peak, then bankruptcy.
- Is that fair to say that you got into the business because you wanted to meet women? - In this country, you gotta make the money first. Then when you get the money, you get the power. Then when you get the power, then you get the women.
😮 Once a Good O'l Private Ltd Company went Public , it has to cater to shareholders' greed for more dividend payments for their shares & eventually their original concept & offerings will be affected by cost cuttings to improve their profit margins for the greedy shareholders again! ... 🙏🕯🌎
I love the grounded reality of this channel!!! *If you are not in the financial market space right now, you are making a huge mistake. I understand that it could be due to ignorance, but if you want to make your money work for you..prevent inflation.*
I feel sympathy and empathy for our country, low income earners are suffering to survive, and I appreciate Wayne. You've helped my family with your advice. imagine investing $30,000 and receiving $95,460 after 28 days of trading.
Honestly, our government has no idea how people are suffering these days. I feel sorry for disabled people who don't get the help they deserve. All thanks to Mr Michael Wayne, imagine investing $1000 and receiving $5700 in a few days..
The sushi story obviously feels like financiers trying to double dip and justify their own investment interests, directly injecting the poison into their troubles
I live in the Philippines we had some TGI Fridays first time I ate I felt it was OK but not something I would go back to. When a Chili's opened I tasted there was difference between the two been more of a Chili's fan since.
Like Las Vegas the Bahamas and many other businesses. You alienate your core clientele to go after the family dollar and stroller crowd usually means the end.
tgi´s in the uk was great in the 90´s. we weren´t price sensitive. it was a singles/couples bar at night and families weekend day time. so it needed to keep fresh but not to change too much
No company can survive declining revenues like that. You can have the best capital structure possible and you are still going out of business eventually.
Poor service, poor quality food, inflated prices, and no innovation to attract new/younger diners = bankruptcy. But they decided to invest in a sushi menu 🤦🏾♀️😂😂😂
These historic restaurants are going bankrupt along with middle-class America. Middle-class can't afford eating out anymore. You can give me some technical reasons, but the 2008 was the start of it.
Its a restaurant that has food that tastes like something out of a freezer burned box in the back of a stoners fridge. Is there really any surprise they're going under?
You work for 40yrs to have $1M in your retirement, meanwhile some people are putting just $10K in a meme coin from just a few months ago and now they are multimillionaires.
I want to compliment you, you have said it all. I am a little business owner and I really want to expand my business to the next level by making myself an investor but I really don't know how to go about it..
I never understood the "rebrand" with Arial Bold font as the new logo and serving from the grocery store freezer section. I miss the junk nailed to the walls.
Well, I loved TGIF's, but they've raised their prices too much. We tried to go last year or two, and the amount of food that you get for $20 bucks -- IS NOTHING. Not worth eating out anymore, because it is just so much easier to EAT AT HOME and learn to cook off of website videos. Nowadays, there are so many COPYCAT RECIPES for restaurants that it's fun to cook at home.
If we need to mutually waste valuable time, wsj, around the mystery of TGIFs demise, I can truly assert that few have the intelligence to build and run any business. In usual journalist practice, wsj has no more acumen or business intelligence than anyone else.
What I’m saying is that the wsj hides behind dusty, pompous, printed graphs and charts, but is as clueless or more as any other schmuck around innovation.
The ruse that turned a culinary punchline into one of London’s hottest restaurants: on.wsj.com/3Z03TIU
It's the same story over and over again in USA these days. Private Equity companies buying great businesses making profits and turning it into the ground.
This. As soon as private equity enters a business, it's over.
“Insanity is doing the same thing over and over again and expecting different results.”
They didn't buy it until it was already crashing.
@@homewall744
Yes, because they wanna squeeze out whatever value was last of the company.
And of course, borrow home a bunch of money and leave it more in debt.
Pre-made and prepackaged microwave food being passed off as "good" food is what i think killed this place. Low quality food. 🤮
Exactly, said same above. Yes, they raised prices and gave you more HEAT-UP MEALS that you know they weren't cooking in-house. Not worth it anymore.
Yah, at least applebees is cheaper and has deals that makes it somewhat appealable
What? You dont want microwaved food at a ridiculous price plus tip?
@class.C no thanks. 👎
This is so fucked 😮 now I’ll know what’s happening with subject business
Getting purchased by a private equity company is the quickest way to go bankrupt, guaranteed.
"Private Equity ruins everything it touches" should be the title of the video here, lets be honest.
It used to be THE place to go, had my 21st birthday at TGIFs, kept going into the 2000s, then a lot of competition arrived, quality and service ( but not prices ) dropped noticeably and then I stopped altogether.
Yes, they raised prices and gave you more HEAT-UP MEALS that you know they weren't cooking in-house. Not worth it anymore.
I ate at tgi Fridays once when I was a teenager, and I didn’t find it difficult to never return. I’m not surprised about the bankruptcy but it sucks for the remaining franchise owners.
not enough flair 😢
MeToo movement destroyed the restaurant. Cant approach women anymore without lawsuit
@@chiquita683 you're nuts if you think a random internet trend destroyed a business. It's due to a mix of macroeconomics and horrible high level company mismanagement, get your head out of the gutter.
I never knew TGI Fridays was originally a singles bar…
Ask your mom.
@@MIAMIC70 ahahaaaaa
Last time I went, it was $70 for 2 people. Food was simple and blah, not $70 worth. Never went again
Man I used to love TGI Fridays in the early 2000s. That was the go to spot in my early 20s during college.
Yeah, same here, but they sure went down after popularity of Office Space faded.
The only places where I see TGIF succeed are in airports. They seem more common there. I ate there recently and the food was very average and overpriced ($12 for a hamburger).
Private Equity - The Kiss of Death
Their whiskey glaze sauce is super good with their ribs, but everything else is trash. Fried shrimps and fries were mid. I also like that they sold solid strawberry lemonade.
The food was nasty. Lol.
Here in the UK TGIFridays were awful. Poor service, poor food. I always avoided them
It's still huge in the UAE
McDonald's in the US is so much lower quality in comparison to what some other countries have at their McDonalds. US food standards are abysmal in a lot of areas and local owners penny pinch and treat their workers like dirt for profits.
It’s big in Jamaica as well.
It's really good in Brazil also
Same in Cyprus
Them $10 endless apps saved me during college. We’d get a group of 5/6 and plan each round and shared food.
Frozen looking food and clowns as bartenders. It is impressive how long they lasted
I work at one in the kitchen over the summer in 1995. Food was always fresh and cooked to order. Haven’t been back since.
I frequented Friday's in the 80s. There was one close to work and a couple times a week, all the 20 somethings from my building would head to Friday's. That was the norm back then, friends went out to bars together.
My data might be skewed but I've worked with tons of 20 somethings over the past couple decades and they rarely go to bars. The standard thing is a small group will go to someone's home and order in and then play video games.
Give me a bowl of Pho over TGI fridays any day
It’s still THRIVING here in Japan…
Just went to tgif couple days ago. Service was bad. I felt
Like the server was mad at me when I walked in.
I was just about to comment that the food was just okay here where I live, but the service was the worst that I've ever had and all of their yelp reviews said the same thing. It almost felt like the management trained their staff to be unpleasant and terrible 🤨
Fridays cranked in the early 80's. I worked at one. So much fun. As the years went on the food declined.
I had no idea they were going into bankruptcy . I drove around the corner last month and then instead of seeing lights from the Friday's shining at night I saw darkness and plywood covering all the windows and an empty parkin lot. WOW. All of the sudden. I remember I had stopped seeing families going there to seeing only bikers. That was a clear sign of the end.
Over charged for 2 glasses of wine -- I understand for a rizzy place but TGIF?
Meal was standard for a diner. Never understood its appeal. The 1980s wass the creation of those kind "edgy" restaurants so like the others it ran its course -- raise, peak, then bankruptcy.
was that Bryan Cranston in the commercial in the opening of this video?
Lol nice catch 👍
- Is that fair to say that you got into the business because you wanted to meet women?
- In this country, you gotta make the money first. Then when you get the money, you get the power. Then when you get the power, then you get the women.
😮 Once a Good O'l Private Ltd Company went Public , it has to cater to shareholders' greed for more dividend payments for their shares & eventually their original concept & offerings will be affected by cost cuttings to improve their profit margins for the greedy shareholders again! ... 🙏🕯🌎
I love the grounded reality of this channel!!!
*If you are not in the financial market space right now, you are making a huge mistake. I understand that it could be due to ignorance, but if you want to make your money work for you..prevent inflation.*
I feel sympathy and empathy for our country, low income earners are suffering to survive, and I appreciate Wayne. You've helped my family with your advice. imagine investing $30,000 and receiving $95,460 after 28 days of trading.
Honestly, our government has no idea how people are suffering these days. I feel sorry for disabled people who don't get the help they deserve. All thanks to Mr Michael Wayne, imagine investing $1000 and receiving $5700 in a few days..
The sushi story obviously feels like financiers trying to double dip and justify their own investment interests, directly injecting the poison into their troubles
TLDW - private equity groups don’t know anything about running a business
I live in the Philippines we had some TGI Fridays first time I ate I felt it was OK but not something I would go back to. When a Chili's opened I tasted there was difference between the two been more of a Chili's fan since.
Have you started work on the Jersey Mike's bankruptcy video yet?
I loved TGI Fridays, fantastic Potato skins. Then they disappeared from here in PDX.
It's so sad to see such an icon crumble 😔
Like Las Vegas the Bahamas and many other businesses. You alienate your core clientele to go after the family dollar and stroller crowd usually means the end.
tgi´s in the uk was great in the 90´s. we weren´t price sensitive. it was a singles/couples bar at night and families weekend day time. so it needed to keep fresh but not to change too much
Whoa Bryan Cranston telling us ITS FRIDAY!!!!
In Panama they are still number 1, but it is because the franchisee is doing a great job with the brand.
No company can survive declining revenues like that. You can have the best capital structure possible and you are still going out of business eventually.
There's a TGI Friday's near here. Southwoods Mall, I think.
Well, won't be for long. They're all going under.
I love their sizzling chicken, one of my favorite dishes of all time.
Private Equity. The same thing that destroyed basically every US brand and store from my childhood. America is gross
Is Applebees next?
Changing up the app and the rewards made it more annoying to use and I stopped going there two years ago.
I hated their cheesy commercials
Interesting to see TGIF in Manila when I last vacationed earlier this spring of 2024.
Poor service, poor quality food, inflated prices, and no innovation to attract new/younger diners = bankruptcy. But they decided to invest in a sushi menu 🤦🏾♀️😂😂😂
It’s almost like these companies should plan a better exit strategy because most buisness claim loss or go bankrupt
It was the flair..it's always the flair...
Company Man put out a video about TGI Fridays 2 weeks ago... Coincidence? I don't think so and I don't like it.
I came here to get drunk for cheap and meet locals. It worked.
Private equity strikes again. Terrible food, didn’t keep up with the times, lost its identity, high prices, the list could go on.
Moral of the story never take out a loan.
It was pretty gross to be honest, people are smarter and more discerning today.
I believe where they went wrong they kept changing the message of their brand. 😊
Outstanding
These historic restaurants are going bankrupt along with middle-class America. Middle-class can't afford eating out anymore. You can give me some technical reasons, but the 2008 was the start of it.
Isn’t liquidating assets the goal of private equity?
Private Equity was the reason it went bankrupt
LOL but not really; any time I hear Private Equity is involved you know the ending is bad!!
Should have kept the endless apps for $12 like they promised.
Thank God
I'm surprised Diddy let this opportunity slide; he would’ve been a great franchisee #freakyfridays
Its a restaurant that has food that tastes like something out of a freezer burned box in the back of a stoners fridge.
Is there really any surprise they're going under?
You work for 40yrs to have $1M in your
retirement, meanwhile some people are putting just $10K in a meme coin from just a few months ago and now they are multimillionaires.
I want to compliment you, you have said it all. I am a little business owner and I really want to expand my business to the next level by making myself an investor but I really don't know how to go about it..
imagine invsting in Btcoin earlier.... You could have been a multi millionaire precently
You're right but a lot of people remain poor due to ignorance
Not because of ignorance, it's because of the high rate of unprofessionalism in the cypto market
I'm new to cypto trading, feels overwhelming but I won't give up on learning this. Thanks for your clear explanation from the very beginning!
Endless apps is awesome.
Well, it seems to be doing well here in South Korea :)
Love their muzzarela sticks hahah
I was thinking about opening a place called Dicks Cat House
private equity strikes again
I swear another YT channel made a TGI Fridays last week... HMMMMM
I never understood the "rebrand" with Arial Bold font as the new logo and serving from the grocery store freezer section. I miss the junk nailed to the walls.
Chili's is better not to mention cheaper
Is it possible because the food is simply bad....
Let me guess before watching: Private Equity?
Anybody ever been to the one in Playa del Carmen Mexico?
To much over head , you merge two businesses into one , TGI Friday's & Red Lobster
ICC issues arrest warrant for Colonial PM Benjamin Netanyahu and Yoaf Galant
Thank God it's banckrupt!
chilis clears though
TGI Friday’s sold sushi???
TLDR-the food was ass
bye shut down. we need new chains to go to. chains have become so lame. and boring.
Well, I loved TGIF's, but they've raised their prices too much. We tried to go last year or two, and the amount of food that you get for $20 bucks -- IS NOTHING. Not worth eating out anymore, because it is just so much easier to EAT AT HOME and learn to cook off of website videos. Nowadays, there are so many COPYCAT RECIPES for restaurants that it's fun to cook at home.
I pay $20 for a bowl of pho nowadays.
Never found any part of this place appealing. Rather go to a dive bar.
Walter White?! 😮
i knew it was going to go bankrupt
People don't want to go out and hangout. They want to sit on their fat butts and order delivery.
If we need to mutually waste valuable time, wsj, around the mystery of TGIFs demise, I can truly assert that few have the intelligence to build and run any business.
In usual journalist practice, wsj has no more acumen or business intelligence than anyone else.
What I’m saying is that the wsj hides behind dusty, pompous, printed graphs and charts, but is as clueless or more as any other schmuck around innovation.
What did this map person do to michigan it's not shaped liked tha.
Icon? Come on.
Low quality food.
Tillman opened tgif to meet women /// when are the sexual harassment cases going to start popping up 😮😂
It got stale like many other things!!!
Based
Sad to think that some kids won’t be able to experience TGI Fridays.
Thank God kids won’t have too place Is junk😊
Bennigans is gone to