No, not all TGI Fridays locations are closing down.
TGI Fridays has recently navigated significant financial challenges, particularly influenced by the COVID-19 pandemic and its capital structure. While these circumstances led to a bankruptcy filing affecting some parts of its operations, the vast majority of its restaurants are not shutting down.
Status of TGI Fridays Locations
Despite a recent bankruptcy filing that included certain company-owned locations, TGI Fridays intends to keep a substantial number of its restaurants operational. The chain is focusing on stabilizing its business and maintaining its presence.
Here's a breakdown of the locations continuing to operate:
| Location Type | Number of Locations | Status |
|---|---|---|
| Company-owned (included in bankruptcy filing) | 39 | Staying Open |
| Other Company-owned (U.S. & Abroad) | Hundreds | Staying Open |
This shows that while the company is undergoing a period of financial adjustment, it is not closing its doors completely. Instead, the strategy involves preserving core operations and ensuring the continued viability of many existing TGI Fridays restaurants globally.
