TGI Fridays Closes 36 Restaurants See the List

Publish date: 2024-02-19

Casual dining chain TGI Fridays said Wednesday it closed 36 company-owned restaurants throughout the US this week, impacting hundreds of workers.

The company also said it unloaded eight company restaurants by selling them to the chain's former CEO, Ray Blanchette.

TGI Fridays is closing corporate stores as part of an ongoing effort to transform the brand under new leadership. TGI Fridays has had two CEOs since Blanchette left the chain in May.

"We've identified opportunities to optimize and streamline our operations to ensure we are best positioned to meet — and exceed — on that brand promise," Ray Risley, chief operating officer, said in a statement. "By strengthening our franchise model and closing underperforming stores, we are creating an unprecedented opportunity for Fridays to drive forward its vision for the future." 

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Restaurant consultant Tim Powell said he expects more casual dining restaurants to shutter stores this year.

"This trend of closures will continue as casual dining has been faced with a sea of sameness for years," Powell, the managing principal at the industry consultancy Foodservice IP, told Insider. "Fridays lacks a position or reason to visit. Few customers want to spend time and money at a casual dining restaurant, and many of them are dated."

Fast-food chains are also downsizing and cutting staff.

Last year, Burger King said it would close up to 400 restaurants during its current fiscal year. Dozens have already closed. While Pizza Hut isn't closing stores, two California franchisees took the unprecedented step of laying off more than 1,200 delivery drivers as restaurants in the state brace for an upcoming minimum wage hike to $20 an hour in the state.

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The 36 TGI Fridays restaurants closed on January 3, with most of the closures targeting locations in New York, Massachusetts, and New Jersey. New York and New Jersey raised their minimum wage on January 1.

The chain, which has 650 restaurants in 51 countries, said it is offering more than 1,000 transfer opportunities for employees. That represents over 80% of the total workforce impacted by the 36 closures, the chain said.

Here's a list of the stores closing: 

California

Colorado

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Connecticut

Florida

Massachusetts

Maryland

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New Hampshire

New Jersey

New York

Pennsylvania

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Texas

Virginia

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