TGI Fridays closed nearly 50 locations last week, raising concerns about the chain’s financial stability as it reportedly considers bankruptcy due to mounting debts.

As of Monday, the chain operates 164 restaurants, a significant drop from 213 just a week earlier, based on its online store locator. This marks a sharp decline from over 250 locations at the start of the year.

The latest closures follow a series of shutdowns, including 36 in January, several during the summer, and around a dozen last month. While no official list of closures has been released, local reports indicate restaurants have closed in states such as California, Ohio, New York, New Jersey, Florida, and Missouri.

As a result, TGI Fridays has completely exited cities like Columbus, Ohio, and Buffalo, New York.

The casual dining chain is the latest to face challenges as more Americans, frustrated by rising menu prices, choose to dine at home. Other chains, including Red Lobster, Applebee’s, and Hooters, have also shut down locations.

Founded in 1965 in New York City as a relaxed singles bar, TGI Fridays became one of the first casual dining chains. During the 1960s, 1970s, and 1980s, it gained a reputation for innovative food and cocktails. However, by the 1990s, its image shifted from a nightlife spot for young professionals to a family-friendly dining destination.