The national chain now counts 163 restaurants in the U.S., down from 269 last year.
People peek into a window of a TGI Friday's restaurant to see what they are serving to-go on Wednesday, March 25, 2020, in Miami Beach, Fla. The Dallas-based company filed for Chapter 11 bankruptcy protection. TGI Fridays Executive Chairman Rohit Manocha in a statement said the “primary driver of our financial challenges resulted from COVID-19 and our capital structure.
Sit-down chain restaurants have more broadly faced challenges in recent years as diners choose to get food delivered or visit upscale fast food chains like Chipotle and Shake Shack.Founded in 1965, the popularity of TGI Fridays peaked in 2008 with 601 restaurants in the U.S. and a $2 billion business, according to Kevin Schimpf, director of industry research at Technomic. Its sales in the U.S. were $728 million in 2023, down 15% from the prior year, according to Technomic.
It now counts 163 restaurants in the U.S., down from 269 last year. It closed 36 in January and dozens more in the past week. TGI Fridays Inc. said it only owns and operates 39 restaurants in the U.S., which is just a fraction of the 461 TGI Friday-branded restaurants around the world. A separate entity, TGI Fridays Franchisor, owns the intellectual property and has franchised the brand to 56 independent owners in 41 countries. Those remain open.
If you purchase a product or register for an account through a link on our site, we may receive compensation.and agree that your clicks, interactions, and personal information may be collected, recorded, and/or stored by us and social media and other third-party partners in accordance with our
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
TGI Fridays files for bankruptcy protection as sit-down restaurant struggles continueThe Dallas-based company filed for Chapter 11 bankruptcy protection in a Texas federal court.
Read more »
TGI Fridays files for bankruptcy protection as sit-down restaurant struggles continueDALLAS (AP) — Restaurant chain TGI Fridays filed for bankruptcy protection Saturday, saying it is looking for ways to “ensure the long-term viability” of
Read more »
TGI Fridays files for bankruptcy protection as sit-down restaurant struggles continueThe restaurant chain said Saturday it is looking for ways to 'ensure the long-term viability' of the casual dining brand.
Read more »
TGI Fridays files for bankruptcy protection as sit-down restaurant struggles continueRestaurant chain TGI Fridays said Saturday it has filed for bankruptcy protection as it looks for ways to “ensure the long-term viability” of the casual dining brand.
Read more »
TGI Fridays files for bankruptcy protection as sit-down restaurant struggles continueRestaurant chain TGI Fridays said Saturday it has filed for bankruptcy protection as it looks for ways to “ensure the long-term viability” of the casual dining brand.
Read more »
TGI Fridays files for bankruptcy protection as sit-down restaurant struggles continueRestaurant chain TGI Fridays said Saturday it has filed for bankruptcy protection as it looks for ways to “ensure the long-term viability” of the casual dining brand.
Read more »