The Investor Manifesto
Advertisement
  • Business
  • Politics
  • Investing
  • Stocks
No Result
View All Result
  • Business
  • Politics
  • Investing
  • Stocks
No Result
View All Result
The Investor Manifesto
No Result
View All Result
Home Business

TGI Fridays to close 36 ‘underperforming’ locations across the U.S.

January 6, 2024
in Business
TGI Fridays to close 36 ‘underperforming’ locations across the U.S.
0
SHARES
5
VIEWS
Share on FacebookShare on Twitter

TGI Fridays is closing 36 ‘underperforming’ locations across the U.S. as part of a broader restructuring.

The fast-casual eatery said in a release late Wednesday that it is offering at least 1,000 transfer opportunities to employees, which accounts for more than 80% of workers who will be affected by the restaurant closures.

New Jersey is seeing the most TGI Fridays closures; seven will be shuttered there, according to a list shared by a company representative. Six locations are closing in Massachusetts, with five closings in New York and Texas. In Virginia, four TGI Fridays locations will be shut down. Other states seeing closures include California, Colorado, Connecticut, Florida, Maryland and New Hampshire.

The restaurant also said it was selling eight corporate-owned restaurants in the Northeast to its former CEO Ray Blanchette.

“We’ve identified opportunities to optimize and streamline our operations to ensure we are best positioned to meet — and exceed — on [our] brand promise,” Ray Risley, U.S. president and chief operating officer at TGI Fridays, said in the release. “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.”

The moves come as the privately owned company recently brought in a new leadership team, including CEO Weldon Spangler in October, who previously served in executive roles at Subway, Dunkin’, Papa Murphy’s and Starbucks.

“As we continue along our path of transformation to revitalize the Fridays brand and implement a long-term growth strategy, we see a bright future for TGI Fridays,” Spangler said in the release.

“We are at the helm of a pivotal moment that will allow us to explore boundless advancement, expansion, and innovation to keep delivering ‘That Fridays Feeling’ that our fans know and love.”

This post appeared first on NBC NEWS

Previous Post

SPY Resting At Support, But Financials Are Showing Strength

Next Post

Lululemon founder slams company’s ‘whole diversity and inclusion thing’

Next Post
Lululemon founder slams company’s ‘whole diversity and inclusion thing’

Lululemon founder slams company’s ‘whole diversity and inclusion thing’

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent News

    Xi Jinping’s surprise no-show at BRICS Summit fuels speculation about China’s global standing

    Xi Jinping’s surprise no-show at BRICS Summit fuels speculation about China’s global standing

    July 6, 2025
    Democrats project doom and gloom, not celebration, with July 4 messages

    Democrats project doom and gloom, not celebration, with July 4 messages

    July 6, 2025
    Tech 5: US Lifts EDA Restrictions for China, Apple Explores Third Party AI for Siri

    Tech 5: US Lifts EDA Restrictions for China, Apple Explores Third Party AI for Siri

    July 6, 2025
    Week Ahead: NIFTY Set To Stay In A Defined Range Unless These Levels Are Taken Out; Drags Support Higher

    Week Ahead: NIFTY Set To Stay In A Defined Range Unless These Levels Are Taken Out; Drags Support Higher

    July 5, 2025
    Disclaimer: TheInvestorManifesto.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Popular

    Walmart is using its own fintech firm to provide credit cards after dumping Capital One
    Business

    Walmart is using its own fintech firm to provide credit cards after dumping Capital One

    June 11, 2025

    Read more

    Recent News

    Xi Jinping’s surprise no-show at BRICS Summit fuels speculation about China’s global standing

    Xi Jinping’s surprise no-show at BRICS Summit fuels speculation about China’s global standing

    July 6, 2025
    Democrats project doom and gloom, not celebration, with July 4 messages

    Democrats project doom and gloom, not celebration, with July 4 messages

    July 6, 2025
    • About us
    • Contacts
    • Privacy Policy
    • Terms and Conditions
    • Email Whitelisting

    Copyright © 2025 theinvestormanifesto.com | All Rights Reserved

    No Result
    View All Result
    • Business
    • Politics
    • Investing
    • Stocks

    Copyright © 2025 theinvestormanifesto.com | All Rights Reserved