In the past month, the well-known American chain restaurant “TGI Fridays” has closed 12 restaurants in the United States. At the same time, this American chain restaurant, which focuses on casual dining, has also closed 35 restaurants on the other side of the Atlantic.
Last week, according to the location information on the company’s website, Fridays shut down multiple locations in the northeast, including Clifton Park, Middletown, and Poughkeepsie in New York, Allentown in Pennsylvania, Enfield in Connecticut, and Leesburg in Virginia.
Earlier this month, Fridays also closed several locations in the southeast and midwest regions, involving states such as North Carolina, South Carolina, Wisconsin, Michigan, and Indiana. Additionally, two locations in Minnesota were also shut down.
According to a report from Sky News last week, the UK operator of this major chain restaurant that primarily offers American cuisine and casual dining, Hostmore, filed for bankruptcy in September. Subsequently, multiple operators reached an acquisition agreement with Fridays, acquiring 51 locations and saving nearly 2,400 jobs. However, 35 restaurants were not included in this acquisition deal and had to close immediately, leading to over 1,000 employees being laid off.
Fox News contacted Fridays for comments on the recent restaurant closures but did not receive a response.
In January of this year, Fridays closed an additional 36 “underperforming” restaurants as part of its long-term growth strategy to ensure its sustainability.
Furthermore, in the same month, Fridays sold eight company-owned restaurants to former CEO Ray Blanchette, stating that this “transitional period” would help drive continuous revenue for the chain.
“We have identified opportunities to optimize and streamline operations to ensure we can deliver on and exceed brand promises in the best way possible,” said Fridays’ Chief Operations Officer Ray Risley in a previous press release.
“By strengthening our franchising model and closing underperforming stores,” he said, “we are creating an unprecedented opportunity for Fridays to advance its future vision.”
Fridays is a franchise business that has been providing food services to customers in the United States for over fifty years. The website information shows that currently, Fridays has over 600 branches in 55 countries, with 233 located in the United States, most of which are owned by franchisees.
With changes in consumer behavior, digital innovation, and the rise of new delivery platforms, the traditional restaurant industry has been hit over the past decade. Formerly popular casual dining restaurants like Fridays, Applebee’s, and Chili’s have been among the hardest hit.