Current:Home > StocksTGI Fridays says it's closing 36 "underperforming" restaurants across U.S. Here's where they are. -RiskWatch
TGI Fridays says it's closing 36 "underperforming" restaurants across U.S. Here's where they are.
Rekubit Exchange View
Date:2025-04-08 19:26:33
Residents of cities in 12 states across the U.S. will have to celebrate the start of the weekend someplace other than TGI Fridays.
Casual restaurant chain TGI Fridays is closing 36 "underperforming" locations across the U.S. as part of a corporate growth strategy, the company said in a statement Wednesday.
The privately owned company will also sell eight corporate-owned restaurants to TGI Fridays' former CEO Ray Blanchette, who had served as chief executive until last year, the company said.
Some employees at affected restaurants will have the opportunity to move to roles at other locations. The chain said more than 1,000 workers, or more than 80% of employees working at restaurants that are closing, will be offered transfer opportunities.
Roughly 1,250 workers will be affected by the restaurant closures, which are concentrated in Massachusetts, New Jersey, New York, Texas and Virginia.
"Our top priority has always been delivering a superior experience for each and every TGI Fridays guest, and 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, U.S. President and Chief Operating Officer at TGI Fridays 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."
The sudden move follows a recent corporate shake-up at the casual bar and grill chain, including the appointment of Weldon Spangler to CEO following Blanchette's departure in May.
Below is a list provided by the company to CBS MoneyWatch detailing all the TGI Fridays locations where restaurants will close:
- Fresno, California
- Denver, Colorado
- Longmont, Colorado
- Newington, Connecticut
- Ormond Beach, Florida
- Royal Palm, Florida
- Bowie, Maryland
- Columbia, Maryland
- Berlin/Marlborough, Massachusetts
- Danvers, Massachusetts
- Dedham, Massachusetts
- Mansfield, Massachusetts
- North Attleboro, Massachusetts
- Seekonik, Massachusetts
- Amherst, New Hampshire
- Albany, New Jersey
- Eatontown, New Jersey
- Hackensack, New Jersey
- Iselin/Woodbridge, New Jersey
- Marlton/Evesham, New Jersey
- Princeton, New Jersey
- Springfield, New Jersey
- Wayne Town Center, New Jersey
- Bay Shore, New York
- Hauppauge, New York
- Massapequa, New York
- Woodbury Township, New York
- Willow Grove, Pennsylvania
- Corpus Christi, Texas
- Houston Almeda, Texas
- North Arlington, Texas
- The Woodlands, Texas
- Fredericksburg, Virginia
- Manassas, Virginia
- Springfield, Virginia
- Woodbridge/Potomac Mills, Virginia
Megan Cerullo is a New York-based reporter for CBS MoneyWatch covering small business, workplace, health care, consumer spending and personal finance topics. She regularly appears on CBS News streaming to discuss her reporting.
veryGood! (92954)
Related
- 'As foretold in the prophecy': Elon Musk and internet react as Tesla stock hits $420 all
- Israel, Gaza and how it's tearing your family and friends apart
- Former NFL star Terrell Owens hit by car after argument with man in California
- German government launches a drive to get more Ukrainian and other refugees into jobs
- Sam Taylor
- A teacher showed 4th graders the 'Winnie the Pooh' slasher film: Why that's a terrible idea
- A teacher showed 4th graders the 'Winnie the Pooh' slasher film: Why that's a terrible idea
- Britney Spears memoir reaches bestseller status a week before it hits shelves
- Macy's says employee who allegedly hid $150 million in expenses had no major 'impact'
- Tupac murder suspect Duane Davis set to appear in court
Ranking
- Rams vs. 49ers highlights: LA wins rainy defensive struggle in key divisional game
- A new study points to a key window of opportunity to save Greenland's ice sheet
- “They burned her: At the end of an awful wait for news comes word that a feared hostage is dead
- Can we still relate to Bad Bunny?
- 2025 'Doomsday Clock': This is how close we are to self
- A new study points to a key window of opportunity to save Greenland's ice sheet
- World Food Program appeals for $19 million to provide emergency food in quake-hit Afghanistan
- Florida police officer charged with sexual battery and false imprisonment of tourist
Recommendation
Nevada attorney general revives 2020 fake electors case
Former Wisconsin Supreme Court justice fights order to appear in court over impeachment advice
Horror movie creators to reboot 'Gargoyles' on Disney+: What to know about '90s series revival
Pakistan court grants protection from arrest to ex-leader Nawaz Sharif, allowing his return home
Charges tied to China weigh on GM in Q4, but profit and revenue top expectations
Far-right influencer sentenced to 7 months in 2016 voter suppression scheme
Czech government survives no-confidence vote in Parliament sought by populist ex-prime minister
Evidence shows Hamas militants likely used some North Korean weapons in attack on Israel