TGI Fridays Closes 36 Restaurants Nationwide

The company also sells eight Northeast locations to former CEO amid restructuring efforts.

TGI Fridays has announced the closure of 36 'underperforming' restaurants across 12 states in the US as part of its ongoing growth strategy.
The closures are concentrated in New Jersey, Massachusetts, New York, Texas, and Virginia.
The company has also sold eight of its previously corporate-owned restaurants in the Northeast to its former CEO, Ray Blanchette.
More than 1,000 employees affected by the closures, representing over 80% of the workforce, will be offered the option to transfer to other locations.
The company had approximately 270 US locations prior to the closures.