TGI Friday’s Inc. has recently filed for Chapter 11 bankruptcy, revealing that it has nearly $50 million in unused gift cards and certificates.

This has caused concern among franchisees who are worried about the financial implications of a potential increase in gift card redemptions from customers who may return to the chain after a long period of inactivity.

The bankruptcy of the dining chain could result in a surge of customers looking to use their long-held gift cards, which may have been stored away in various locations. Franchise owners are uncertain about who will be responsible for the costs associated with these redemptions, as the company deals with its financial challenges and attempts to sell itself during the bankruptcy process.