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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!
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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It’s a staple here in USA
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This is just poor planning.
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Reminder that gift cards are basically privately issued fiat.
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Yeah it allows businesses to side step expensive payment providers like credit and debit cards
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Starbucks is actually a bank.
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And McDonalds is a real estate company.
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