TGI Footprint on Friday in the United States It has been significantly diminished.
The chain website listed 85 restaurants throughout the country, less than a third of the number operating in the US. In early 2024, when there were about 270, CNN Tesday reported.
In November, when TGI Friday’s Inc. entered the bankruptcy procedures of Chapter 11, more than 160 were dispersed by America, according to the departure. There are leg closures and sales of restaurants from TGI Fridys as then.
TGI Friday’s Inc. declared bankruptcy “to allow the company to explore strategic alternatives to guarantee the long -term viability of the brand,” he said at that time.
The franchisee locations to 56 franchisees in 41 countries were not included in the process of Chapter 11, according to their November press release that announces bankruptcy.
“The story about TGI friday, the iconic restaurant bar chain that invented informal meals, the concept of single bar and the ice cream tea island, are not the closures, but the new structure and the new strategy,” said a representative of TGI Fridays to Fox.
Ray Blanchette franchisee was chosen to lead TGI on Fridays and created TGIF’s management from Sugarloaf. Previously it was the CEO of the 2018 to 2023 chain.
“The brand, different from the entity that was declared in bankruptcy, is now directed by franchisees, with a franchised advisory board that empowers and shapes the decisions of the entire brand,” said TGI’s Friday representative. “Banking hit less than 10% of the system.”
TGI Fridys’s footprint currently includes 391 restaurants in 41 countries, according to the company.
Blanchette, who directs the efforts of TGI Fridys, recently told Fox Business that within his first 100 days, the company had already improved 80% of its menu, with a new menu of food and cocktail that Nation 13 launched.
TGI Friday is also looking to attract a young audience and “change the voice of the brand and refresh it” with more emphasis on social networks, he said in the interview.
