TGI Fridays Is Getting A Little Nervous About People Sitting On $50 Million In Unused Gift Cards

I can't remember the last time I was in a TGI Fridays (although, whenever it was, I'm assuming it was in an airport or next to a hotel) and it would seem that plenty of other people haven't either. 

That's got the restaurant chain nervous, and not for the reason you'd think. They're concerned because there are believed to be $50 million worth of unused TGI Fridays gift cards out there and if they were to all be used, it could sink the entire company.

Pour out a domestic light beer for potato skins and mozzarella sticks…

According to Forbes, TGI Fridays filed for bankruptcy last week and in those filings they revealed that there are $49.7 million worth of non-expiring gift cards — some of which date all the way back to 2003 — out there. If they were going to be used, it'd be a very expensive problem for the ailing chain.

Sure, other restaurants have filed for bankruptcy lately so they can get through this. Red Lobster just did it, although they got a boost from the magical positivity of Flavor Flav.

But having to admit that people are getting gift cards to your restaurant and not using them is a bad look.

There's a good chance a few of those people are sitting on some TGI Fridays gift cards. (Photo by Yoon S. Byun/The Boston Globe via Getty Images)

I love a gift card and if I get one I will use it. I'm just as inclined to use a gift card to some dude's dirty water hot dog cart as I am Ruth's Chris Steakhouse.

I'll go anywhere… fine, not Golden Corral, but most other places.

Free food is free food, so if people are taking tens of millions worth of your gift cards and not using them… that's bad times.

So, if you've got a TGI Fridays gift card lying around, go use it… but maybe not everyone all at once.