TGI Friday’s outstanding gift cards are a $50 million problem

TGI Friday’s is worried it won’t have enough cash if customers redeem $50 million in outstanding gift cards that don’t expire.

Transcript

00:00TGI Friday's might need to add a $50 million problem to their financial woes.

00:05The chain is worried they won't have enough cash if customers redeem the millions in outstanding

00:09gift cards that don't expire.

00:11TGI Friday's filed for Chapter 11 bankruptcy last week and the cards were a liability as

00:16they try to sell themselves out of bankruptcy.

00:18And some cards even date back to 2003 according to court filings.

00:22While the chain isn't expecting all gift card holders to cash in on free burgers and fries,

00:27there is some concern among franchisees that the company won't be able to scrounge together

00:31the funds once some cards are cashed in.