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All articles tagged with #tgifridays

food-and-drink2 years ago

"TGI Fridays Shuts Down Dozens of Locations Nationwide, Including 7 in New Jersey"

Colorado's dining scene sees significant changes with TGI Friday's closing its last two locations in the state, alongside 34 others nationwide, as part of a strategic move to strengthen the franchise. Local favorites Roaming Buffalo and Baba & Pop's also closed their doors, with the latter planning a new production kitchen in South Carolina. Balancing these closures, new openings include Lucy Coffee House in Aurora, the club Riot House in Denver, and a third Tikka & Grill location in Englewood. Additionally, Rioja in Larimer Square is temporarily closed for kitchen renovations until January 21.

via Westword|
##coloradodining#food-and-drink
business2 years ago

"TGI Fridays Shuts Down Numerous Locations Nationwide, Including Colorado and New Jersey"

TGI Fridays has closed its final two locations in Colorado as part of a strategic move to shut down 36 underperforming stores nationwide. This decision aligns with the company's efforts to strengthen its franchise model. The closures are part of a broader initiative that has affected multiple states, with the aim of propelling the brand's vision for the future. The iconic chain, known for pioneering the "singles bar," has reduced its global presence but continues to operate over 270 locations worldwide.

via The Denver Post|
##business#casualdining
business2 years ago

"TGI Fridays Shuts Down Dozens of Underperforming Locations Nationwide"

TGI Fridays has announced the closure of 36 of its restaurants nationwide, with the sale of eight locations to its former CEO, Ray Blanchette, for revitalization. The company is restructuring, including changes in executive leadership, and is offering transfer opportunities to the majority of affected employees. Despite the closures, TGI Fridays remains optimistic about its long-term growth strategy and brand revitalization, with 237 locations still operating in the U.S.

via NPR|
##brandrevitalization#business
business2 years ago

"TGI Fridays Shuts Down Multiple Locations Nationwide Amid Struggles"

TGI Fridays has closed seven locations in New Jersey due to underperformance, as part of a nationwide strategy to shutter 36 locations. The closures have affected employees, with over 1,000 transfer opportunities being offered, representing over 80% of the impacted workforce. Former kitchen manager Roxanne Meneghin shared her experience of the closure and her subsequent relocation to a Yonkers branch, highlighting the emotional impact on staff and the challenges faced by those not offered transfers.

via News 12 New Jersey|
##business#employeerelocation
business2 years ago

"TGI Fridays Closes Dozens of Locations Nationwide Amid Underperformance"

TGI Fridays announced the closure of 36 underperforming restaurants across the U.S. as part of a strategic move to optimize operations. The closures will affect approximately 1,250 employees, though over 80% will be offered transfer opportunities to other locations. The decision follows a corporate restructuring, including the sale of eight corporate-owned restaurants to the chain's former CEO, Ray Blanchette, and the appointment of Weldon Spangler as the new CEO. The closures span 12 states, with a concentration in Massachusetts, New Jersey, New York, Texas, and Virginia.

via CBS News|
##business#corporatestrategy
business2 years ago

"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.

via NBC News|
##business#fastcasualdining
business2 years ago

"TGI Fridays Closes Dozens of Locations Nationwide Amid Underperformance"

TGI Fridays has closed 36 underperforming restaurants across 12 states, including six in the DC area of Maryland and Virginia, leaving 11 locations in the region. The company is streamlining operations to improve customer experience and has offered transfer opportunities to over 1,000 employees affected by the closures. Additionally, eight Northeast locations have been sold to the chain's former CEO, Ray Blanchette. TGI Fridays, owned by TriArtisan Capital Advisors, operates around 650 restaurants globally.

via WTOP|
##business#businessoptimization
business2 years ago

TGI Fridays Closes Dozens of Locations Nationwide Amid Restructuring Efforts

TGI Fridays has closed 36 "underperforming" restaurants across 12 states, including Pennsylvania and New Jersey, as part of a strategic move to optimize operations. The closures are accompanied by a shakeup in executive ranks and the sale of some locations to former CEO Ray Blanchette. Despite the closures, the company has offered transfer opportunities to about 80% of affected employees and is focusing on revitalizing the brand with menu updates and operational streamlining. The chain is owned by TriArtisan Capital Advisors and reported projected sales of $1.6 billion in 2022.

via WPVI-TV|
##business#executiveshakeup
business2 years ago

"TGI Fridays Closes Dozens of Locations Nationwide Amid Operational Optimization"

TGI Fridays has closed 36 of its "underperforming" restaurants across 12 states in the US as part of a strategic move to optimize operations. The closures are accompanied by a shakeup in executive ranks and the sale of some locations to the chain's former CEO, Ray Blanchette. While the company has offered transfer opportunities to about 80% of affected employees, the closures are part of a broader effort to revitalize the brand, which includes menu updates to compete with rivals like Applebee's and Chili's. Despite not publicly releasing financial results, TGI Fridays projected $1.6 billion in total sales for 2022, with a same-store US sales growth of 8% compared to 2019.

via CNN|
##business#businessstrategy
business2 years ago

TGI Fridays Streamlines Operations by Closing 36 Locations and Selling Others to Boost Growth

TGI Fridays is closing 36 underperforming restaurants across the US and selling eight others to its former CEO, Ray Blanchette, as part of a strategic move to optimize operations. The closures affect a variety of states, with over 1,000 employees being offered transfer opportunities. The company is focusing on strengthening its franchise model and has recently updated its menu to remain competitive in the casual dining sector. Despite the closures, TGI Fridays still operates over 850 locations worldwide, with approximately 275 in the US.

via New York Post |
##business#casualdining
business2 years ago

"TGI Fridays Shuts Down Multiple Massachusetts Outlets Amid Nationwide Closures"

TGI Fridays has closed 36 underperforming locations nationwide, including six in Massachusetts and one in New Hampshire, with signs indicating the closures as customers found the doors locked. The company is offering over 1,000 transfer opportunities to affected employees, although at least one long-term employee reported not receiving an offer. The remaining Massachusetts locations and eight other Northeast locations, sold to the chain's former CEO, remain operational.

via WCVB Boston|
##business#employeetransfers
business2 years ago

"TGI Fridays Shuts Down Multiple Massachusetts Locations Without Warning"

TGI Fridays has closed six underperforming restaurants in Massachusetts as part of a broader move to shut down 36 corporate locations across the U.S. The closures were announced after the restaurants were sold to former CEO Ray Blanchette, who plans to revitalize the remaining locations. Impacted employees are being offered transfer opportunities, with over 80% able to relocate to other operational restaurants within the company.

via Boston 25 News|
##business#corporaterestructuring
business2 years ago

"TGI Fridays Shuts Down Six Underperforming Massachusetts Locations"

TGI Fridays is closing six of its underperforming restaurant locations in Massachusetts, specifically in Dedham, Danvers, Marlboro, Mansfield, North Attleboro, and Seekonk, as part of a larger plan to shut down 36 locations nationwide. The company is offering transfer opportunities to 80% of the affected employees. This move comes alongside the sale of eight corporate-owned restaurants in the northeast to its former CEO, as TGI Fridays aims to strengthen its franchise model and focus on future growth. The closures reflect a broader trend of casual dining establishments struggling in the New England region.

via CBS Boston|
##business#casualdining
business2 years ago

"TGI Fridays Shuts Down Multiple Massachusetts Locations Without Warning"

TGI Fridays has closed six underperforming restaurants in Massachusetts as part of a broader move to shut down 36 corporate locations across the United States. The closures were confirmed by a company spokesperson, and signs were posted at the affected locations. The closed restaurants were sold to former CEO Ray Blanchette, who plans to revitalize them. TGI Fridays is offering transfer opportunities to over 80% of the impacted employees, ensuring continued employment for more than 1,000 workers. Other locations in Massachusetts remain operational.

via Boston 25 News|
##business#corporaterestructuring