TGI Fridays shutters dozens of restaurants, sells others to former CEO

Dana Forsythe
·3 min read
UPI
TGI Fridays said it will close 36 underperforming locations in select markets across the U.S. Photo by SJasminum/Wikimedia Commons

Jan. 4 (UPI) -- TGI Fridays announced Wednesday it had closed dozens of stores and plans to sell others to former CEO of the company Ray Blanchette.

The restaurant chain announced the sale of eight previously corporate-owned restaurants in the Northeast to Blanchette. In a statement, the company said it will also close 36 underperforming locations in select markets across the U.S.

Blanchette stepped down as CEO at TGI Fridays in May after starting in 2019.

As part of the store closures, TGI Fridays said it would offer more than 80% of affected employees a chance to relocate to a different store.

According to WFAA, the TGI Friday's in Corpus Christi, Texas, was closed abruptly on Jan. 2.

"We regret to inform you that Fridays has made the difficult decision to close our doors at Corpus Christi effective January 2, 2024," a sign posted at the now-closed Corpus Christi location said. "Unfortunately, we do not have a nearby location, but look for us in airports and other cities across the country."

The closings were spread across several states including California, Colorado, Connecticut, Florida, Maryland, New Hampshire and Pennsylvania, with the most concentrated in the Northeast. New Jersey led the most closures with seven, followed by Massachusetts and New York. Texas and Virginia were hit with four each.

"As we continue along our path of transformation to revitalize the Fridays brand and implement a long-term growth strategy, we see a bright future for TGI Fridays," Weldon Spangler, CEO of TGI Fridays said in the statement.

According to the company's website, there are over 850 TGI Fridays restaurants in more than 55 countries.

By closing underperforming stores, the company is "creating an unprecedented opportunity for Fridays to drive forward its vision for the future," Ray Risley, TGI Fridays U.S. president and chief operating officer, said in a statement.

TGI Fridays store closings 2024:

California

Fresno: 1077 E Herndon Ave.

Colorado

Longmont: 125 Ken Pratt Blvd.

Denver: 8104 Northfield Blvd.

Connecticut

Newington: 3025 Berlin Turnpike

Florida

Ormond Beach: 24 Ocean Shore Blvd.

Royal Palm Beach: 580 N State Rd 7

Massachusetts

Berlin/Marlborough: 601 Donald Lynch Blvd. Ste 4258

Danvers: 49 Newbury St.

Dedham: 750 Providence Hwy.

Seekonk: 1105 Fall River Ave.

Mansfield: 280 School St. Suite A100

North Attleborough: 1385 S Washington St.

Maryland

Columbia: 8330 Benson Drive

Bowie: 15207 Major Lansdale Blvd.

New Hampshire

Amherst: 124 NH-101A Ste 28

New Jersey

Iselin/Woodbridge: 401 Gill Lane

Hackensack: 411 Hackensack Ave.

Wayne Town Center: 71 Route 23 South

Eatontown: 180 NJ-35 Ste 6000

Springfield: 40 US-22

Marlton/Evesham: 970 ROUTE 73 N

Princeton: 3535 US-1 #275

New York

Albany: 1475 Western Ave.

Bay Shore: 1725 Sunrise Hwy

Woodbury Township: 5 Centre Drive

Hauppauge: 3045 Expy Drive N

Massapequa: 5204 Sunrise Hwy

Pennsylvania

Willow Grove: 2500 W Moreland Road

Texas

Corpus Christi: 5217 S Padre Island Drive

North Arlington: 1524 N Collins St.

Houston Almeda: 12895 Gulf Fwy

The Woodlands: 1105 Lake Woodlands Drive

Virginia

Springfield: 6751-B Frontier Drive

Manassas: 7401 Sudley Road

Fredricksburg: 1160 Carl D Silver Pkwy

Woodbridge/Potomac Mills: 13237 Worth Ave.