(AP) — Restaurant chain TGI Fridays filed for bankruptcy protection Saturday, saying it is looking for ways to “ensure the long-term viability” of the casual dining brand after closing several locations this year.

The Dallas-based company’s Chapter 11 filing in Texas federal court hastened the gradual decline of an iconic chain that was once close to the center of American pop culture but has seen its customer base dwindle as tastes change.

The company boasts that its bartenders trained Tom Cruise for his role in the 1988 movie “Cocktail.” Service personnel’s button-up uniforms, intended to create a playful atmosphere, were later parodied in the 1999 satire “Office Space” starring Jennifer Aniston.

Rohit Manocha, chairman of the board of directors of TGI Fridays, said in a statement that “the main reason for our financial difficulties is due to COVID-19 and our capital structure.”

Sit-down chain restaurants have faced broader challenges in recent years as diners opt to pick up their meals or visit upscale fast food chains like Chipotle and Shake Shack.

A US bankruptcy judge in September approved the restructuring plan after years of mounting losses for seafood chain Red Lobster. Italian American food chain Buca di Beppo filed for bankruptcy protection in August.

Founded in 1965 as a bar on Manhattan’s Upper East Side, TGI Fridays expanded in the following years to become a ubiquitous suburban hangout known for its ribs, potato skins stuffed with cheese and bacon, and a décor adorned with red stripes and Tiffany style . lamps.

His empire peaked in 2008 with 601 restaurants and a $2 billion business in the U.S., according to Kevin Schimpf, Technomic’s director of industry research. Its U.S. sales are $728 million in 2023, down 15% from the previous year, according to Technomic.

The number of restaurants in the USA, which was 269 last year, has now dropped to 163. It closed 36 of them in January and dozens more last week.

TGI Fridays Inc. said it owns and operates just 39 restaurants in the United States; this is just a fraction of the 461 TGI Fridays branded restaurants worldwide. A separate entity, TGI Fridays Franchisor, owns the intellectual property and has franchised the brand to 56 independent owners in 41 countries. These remain open.

Hostmore, a UK-based franchisee, also sought debt protection in September and abruptly closed its branches across the country following a failed takeover deal to buy TGI Fridays.

During the pandemic, TGI Fridays has made an effort to expand its delivery market by establishing itself as a hub for ghost kitchens, which have no storefronts and prepare food only for delivery. TGI Fridays’ largest creditors include delivery service DoorDash, according to bankruptcy court filings on Saturday.

Another iconic US sit-down restaurant, Denny’s was announced in October It said it would close 150 of its lowest-performing restaurants in a bid to reverse the brand’s weakening sales.