Why TGI Fridays Just Shut Down A Whopping 36 Locations
When your work week is winding down, thoughts of fun and relaxation start to enter your mind. Eating out is fun, and doing it in a casual dining atmosphere with great-tasting food and drinks is very relaxing. One chain restaurant that consistently aims to create this kind of environment is TGI Fridays.
Heading to a TGI Fridays location is typically great for a chill evening out with family or friends. You can even try one of the best chain-restaurant mozzarella sticks while there, some baby back ribs, or simply have cocktails. But unfortunately, some fans around the U.S. will have to find new TGI locations at which to hang out. As reported by CNN on January 4, TGI Fridays announced that it closed 36 U.S. locations across 12 states.
In a press release issued by TGI Fridays, it said, "As part of the brand's ongoing growth strategy, TGI Fridays will [...] close 36 underperforming locations in select markets across the U.S." Unfortunately, this means that the employees at those closing locations will be losing their jobs. However, TGI Fridays said that it's "offering more than 1,000 transfer opportunities, which represents over 80% of total impacted employees." So where exactly are these 36 TGI Fridays stores closing?
TGI Fridays will be closing stores in a dozen U.S. states
The TGI Fridays store closures include one store in California, two in Colorado, one in Connecticut, two in Florida, six in Massachusetts, two in Maryland, one in New Hampshire, seven in New Jersey, five in New York, one in Pennsylvania, four in Texas, and four in Virginia. The chain restaurant is the self-proclaimed "world's first casual bar and grill," which may be just one of the things you didn't know about TGI Fridays. It's now looking to improve upon its distinctive dining experience while using these store closures as part of its plan to achieve that goal.
TGI Fridays has seemingly developed a new strategy to enhance its operations while also improving efficiencies. Although this strategy required closing 36 stores, TGI's seems hopeful about what it may accomplish. Ray Risley, the president and COO of American operations at TGI Fridays, explained, "By strengthening our franchise model and closing underperforming stores, we are creating an unprecedented opportunity for Fridays to drive forward its vision for the future."