Current Events in November 2024

When TGI Friday’s declared bankruptcy, there were still nearly $50 million in TGI Fridays gift cards in circulation that had not been used. If you have one in your wallet, it might be a good idea to use it quickly.

In bankruptcy, a company has some protection from creditors, and if you have a gift card, technically you’re a creditor – the company owes you money.

The $50 million in gift cards may be a bigger problem for TGI Fridays franchises. The franchises are not included in the bankruptcy, just the 39 company-owned stores.

Under normal circumstances, when customers pay for meals at franchise restaurants using gift cards, the company reimburses the franchise. Now, it’s not clear if the reimbursements will continue.

According to court documents, some of the unused TGI Fridays gift cards are more than 20 years old. Some of those might have been misplaced and will never be used. Franchisees can only hope.

But the possibility that 122 franchise restaurants could be on the hook for nearly $50 million in ”free” meals could be a harsh blow to an industry that is already facing economic headwinds. Isaac Marcushamer, co-founder and partner at South-Florida based DGIM Law, says chains like TGI Friday’s face a mix of economic challenges and changing consumer behavior.

Several challenges

“During the pandemic, many restaurants relied on government relief programs to survive,” Marcushamer told ConsumerAffairs. “Now, rising inflation, higher food and labor costs, and lease adjustments back to pre-pandemic rates have compounded the strain on already tight margins. 

“Additionally, consumer preferences have shifted toward delivery and takeout, reducing in-person dining revenue. An uncertain economy, increased interest rates and lease adjustments create the perfect storm for many restaurants to fall into bankruptcy. Several of the same drivers are also being felt by smaller restaurants. This is industry-wide."

According to court records, TGI Friday’s franchises likely will be required to honor company gift cards, regardless of whether they will be reimbursed. Still, it may be smart to use a gift card as soon as possible.

A study by researchers at LUM University has found that eating a lot of ultra-processed foods can speed up biological aging, even if a person’s diet is otherwise healthy. 

The study used data from over 22,000 people in the Moli-sani Study, measuring their biological age with more than 30 blood markers. Unlike actual age, biological age shows how healthy the body really is, including organs and systems, and can differ from one’s chronological age.

"Our data," said Simona Esposito, researcher at the Research Unit of Epidemiology and Prevention and first author of the study, show that a high consumption of ultra-processed foods not only has a negative impact on health in general, but could also accelerate aging itself, suggesting a connection that goes beyond the poor nutritional quality of these foods."

Researchers used food surveys to see how much ultra-processed food participants ate. These foods are made with ingredients not usually used in home cooking (e.g., hydrogenated fats, additives) and include items like packaged snacks, sugary drinks, and even some packaged bread and breakfast cereals.

Findings showed that people who ate a lot of ultra-processed foods aged faster biologically than their actual age. This internal "body clock" can show a body aging faster or slower than calendar years.

Sugar, salt, unhealthy fat

Esposito said that these foods not only harm overall health but could also speed up aging, adding that these foods are rich in sugars, salt, and unhealthy fats, and their intense processing may remove important nutrients and fibers.

They can affect metabolism, gut health, and may even introduce toxins from plastic packaging.

Licia Iacoviello, another senior researcher, suggested that dietary advice should include warnings about ultra-processed foods, as even some nutrient-rich packaged items fall into this category. The goal should be to guide people toward healthier food choices.

"Our data - says Simona Esposito, researcher at the Research Unit of Epidemiology and Prevention and first author of the study - show that a high consumption of ultra-processed foods not only has a negative impact on health in general, but could also accelerate aging itself, suggesting a connection that goes beyond the poor nutritional quality of these foods".

“The mechanisms through which ultra-processed foods can be harmful to human health are not yet entirely clear – explains researcher Marialaura Bonaccio, nutritional epidemiologist at the Research Unit of Epidemiology and Prevention-IRCCS Neuromed – Besides being nutritionally inadequate, being rich in sugars, salt and saturated or trans fats, these foods undergo intense industrial processing that actually alters their food matrix, with the consequent loss of nutrients and fiber. This can have important consequences for a series of physiological functions, including glucose metabolism, and the composition and functionality of the gut microbiota. Also, these products are often wrapped in plastic packaging, thus becoming vehicles of substances toxic to the body”.

“This study - adds Licia Iacoviello, director of the Research Unit of Epidemiology and Prevention at the IRCCS Neuromed and full professor of Hygiene at LUM in Casamassima - prompts us once again to reevaluate the current dietary recommendations, that should also include warnings on limiting the intake of ultra-processed food in our daily diet. Actually, some nutrient-dense packaged foods can be classified as ultra-processed, and this suggest the need of guiding people towards dietary choices that address also the degree of food processing”.

The results were published in The American Journal of Clinical Nutrition.

The Moli-sani Study

Started in March 2005, it involves about 25,000 citizens living in the Molise region. The aim is to learn about environmental and genetic factors underlying cardiovascular disease, cancer and degenerative pathologies. The Moli-sani Study, now based in the I.R.C.C.S. Neuromed, has transformed an entire Italian region in a large research lab.

The I.R.C.C.S. Neuromed

The Institute for Research, Hospitalization and Health Care (I.R.C.C.S.) Neuromed in Pozzilli (Italy) is a landmark, at Italian and international level, for research and therapy in the field of nervous system diseases. A centre in which doctors, researchers, staff and the patients themselves form an alliance aimed at ensuring the best level of service and cutting-edge treatments, guided by the most advanced scientific developments.