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TGI Fridays announces the closure of 36 “underperforming” locations across the U.S, 7 in New Jersey

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the staff of the Ridgewood blog

Hackensack NJ, casual restaurant chain TGI Fridays has announced the closure of 36 “underperforming” locations across the U.S. as part of a strategic corporate growth initiative, according to a statement released on Wednesday.

The privately-owned company is also set to divest eight corporate-owned restaurants to Ray Blanchette, TGI Fridays’ former CEO who served until the previous year.

Affected employees will have the opportunity to transition to roles at other locations, with over 1,000 workers, representing more than 80% of the workforce in the closing restaurants, being offered transfer options.

The restaurant closures will impact approximately 1,250 workers, with a concentration in Massachusetts, New Jersey, New York, Texas, and Virginia.

Ray Risley, U.S. President and Chief Operating Officer at TGI Fridays, stated, “Our top priority has always been delivering a superior experience for each and every TGI Fridays guest, and we’ve identified opportunities to optimize and streamline our operations to ensure we are best positioned to meet – and exceed – on that brand promise. 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.”

This strategic move comes in the wake of recent changes in the leadership of the casual bar and grill chain, including the appointment of Weldon Spangler as CEO following Blanchette’s departure in May.

Below is a list provided by the company detailing all the TGI Fridays locations where restaurants will close:

Albany, New Jersey
Hackensack, New Jersey
Iselin/Woodbridge, New Jersey
Marlton/Evesham, New Jersey
Princeton, New Jersey
Springfield, New Jersey
Wayne Town Center, New Jersey

 

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