TGI Fridays is facing bankruptcy and seeking a loan to help its restaurants continue operating while it pursues Chapter 11 protection, Bloomberg reports.
Over the past month, a dozen TGI Fridays have closed, including one at Eastland Center in West Covina and another at Tyler Mall in Riverside.
"After 40 years of fun, food and celebration in West Covina, we regret to inform you that Fridays West Covina has closed," read a statement from the restaurant chain.
The move comes as the chain recently shuttered 36 "under-performing locations" across the country earlier this year as part of the brand's growth strategy. The casual dining chain has struggled in recent years and has changed CEOs three times last year.
Bloomberg said the bankruptcy filing could come in the next few weeks.