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Restaurant Fridays files for bankruptcy! Fear 655 BTC in giftcard redemptions
460 sats \ 9 comments \ @BlokchainB 7 Nov Stacker_Stocks
USD/BTC = $76,335 Block 869,313
From Snacks Newsletter:
Since TGI Fridays filed for bankruptcy, its franchisees have worried that customers are going to rush to redeem $50M worth of unused gift cards that never expire. Their value is said to exceed TGIF’s available cash, sparking fears of a bank run on potato skins.
The double edge sword of using gift cards!
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140 sats \ 1 reply \ @grayruby 7 Nov
Never been to this restaurant but definitely heard of it.
Bank run on potato skins. Hilarious.
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40 sats \ 0 replies \ @BlokchainB OP 7 Nov
It’s a staple here in USA
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66 sats \ 0 replies \ @Satosora 7 Nov
This is just poor planning.
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58 sats \ 5 replies \ @SimpleStacker 7 Nov
Reminder that gift cards are basically privately issued fiat.
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0 sats \ 4 replies \ @BlokchainB OP 7 Nov
Yeah it allows businesses to side step expensive payment providers like credit and debit cards
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0 sats \ 3 replies \ @random_ 8 Nov
Starbucks is actually a bank.
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69 sats \ 0 replies \ @random_ 8 Nov
And McDonalds is a real estate company.
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0 sats \ 1 reply \ @BlokchainB OP 8 Nov
Airlines too
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0 sats \ 0 replies \ @random_ 8 Nov
Not a joke, folks.
https://fifthperson.com/starbucks-operates-like-a-bank/
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