"TGI Fridays Closes Dozens of Locations Nationwide, Impacting Multiple States"
TGI Fridays announced the closure of 36 underperforming locations across the U.S. as part of a restructuring effort. The company is offering transfer opportunities to over 80% of affected employees. The closures are concentrated in New Jersey, Massachusetts, New York, Texas, and Virginia, among other states. The company is also selling eight corporate-owned restaurants to its former CEO, Ray Blanchette. This move aligns with the company's new leadership and long-term growth strategy to revitalize the TGI Fridays brand.