56°
The company filed the Chapter 11 petition on Saturday, Nov. 2, in Texas, near its Dallas headquarters.
Founded in New York City in 1965, TGI Fridays has 95 restaurants in the US, 39 of which the company owns and operates. The other 56 are independent franchises not involved in the bankruptcy petition.
The company said that all those locations will remain open.
According to the TGI Fridays website and other reports, the following locations are now listed as permanently closed:
New York
Middletown, 23 Crystal Run Crossing
Poughkeepsie, 2594 South Road (Route 9)
Clifton Park, 1 Southside Drive
Connecticut
Enfield, Freshwater-Stateline Plaza, 130 Elm Street
Pennsylvania
Allentown, 395 S Cedar Crest Blvd.
Virginia
Leesburg, 235 Fort Evans Rd NE
"The next steps announced today are difficult but necessary actions to protect the best interests of our stakeholders, including our domestic and international franchisees and our valued team members around the world," said Rohit Manocha, Executive Chairman of TGI Fridays Inc. "The primary driver of our financial challenges resulting from COVID-19 and our capital structure.
"This restructuring will allow our go-forward restaurants to proceed with an optimized corporate infrastructure that enables them to reach their full potential."
Check back to Daily Voice for updates.
Click here to follow Daily Voice Gaithersburg and receive free news updates.
