Current:Home > StocksTGI Fridays says it's closing 36 "underperforming" restaurants across U.S. Here's where they are. -StockSource
TGI Fridays says it's closing 36 "underperforming" restaurants across U.S. Here's where they are.
View
Date:2025-04-15 15:56:32
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! (936)
Related
- Rylee Arnold Shares a Long
- The International System That Pits Foreign Investors Against Indigenous Communities
- Ariana Grande's The Boy Is Mine Video Features Cameos From Brandy, Monica and More
- GameStop stock plunges after it reports quarterly financial loss
- Trump suggestion that Egypt, Jordan absorb Palestinians from Gaza draws rejections, confusion
- Starship splashes down for first time in 4th test: See progression of the SpaceX flights
- Appointed by Trump, Hunter Biden trial judge spent most of her career in civil law
- 23-year-old sought in deaths of her 3 roommates caught after high-speed chase, authorities say
- Average rate on 30
- Seven charged in smuggling migrants in sweltering secret compartment with little water
Ranking
- Tarte Shape Tape Concealer Sells Once Every 4 Seconds: Get 50% Off Before It's Gone
- John Stamos talks rocking through Beach Boys stage fails, showtime hair, Bob Saget lessons
- Appointed by Trump, Hunter Biden trial judge spent most of her career in civil law
- These 19 Father's Day Grilling Gifts Will Get Dad Sear-iously Fired Up
- Jamie Foxx reps say actor was hit in face by a glass at birthday dinner, needed stitches
- Lose Yourself in the Details Behind Eminem's Surprise Performance at Detroit Concert Event
- Why I Ditched My 10-Year-Old Instant Film Camera For This Portable Photo Printer
- Do we really need $1M in retirement savings? Not even close, one top economist says
Recommendation
Meta releases AI model to enhance Metaverse experience
USA's cricket team beats Pakistan in stunning upset at T20 World Cup
Oklahoma softball completes four-peat national championship at the WCWS and it was the hardest yet
Biden apologizes to Ukrainian President Zelenskyy for holdup on military aid: We're still in
Senate begins final push to expand Social Security benefits for millions of people
Lana Del Rey Shares Conversation She's Had With Taylor Swift So Many Times
Mississippi is the latest state sued by tech group over age verification on websites
How many points did Caitlin Clark score today? No. 1 pick scores career-high threes in win