TGI Fridays quietly closed dozens of restaurants last week as the chain prepares to file for bankruptcy protection.
The company’s store locator currently has 164 stores in the U.S., down from the 213 that opened last week, CNN first reported.
The sudden closure comes after a previous chain of Gachi restaurants. Closure of 36 underperforming restaurants In January, it spread across 12 U.S. states. At the time, TGI Friday said the move was part of its “sustained growth strategy.”
TFI Friday’s did not immediately respond to CBS MoneyWatch’s request for comment about the restaurant’s closure last week.
The company has not released a list of closed locations, but recent local reports have revealed where the recently closed restaurants are located.
TGI Fridays stores in Bridgewater and Watchung in Central Jersey have suddenly closed, according to mycentraljersey.com. Another branch in Middletown Township, Pennsylvania also closed, according to local news reports. Additional local reports indicate restaurants across California, New York and Ohio have also been affected.
The Dallas-based casual dining pioneer has struggled to execute on its growth plans as customers on tighter budgets prefer cheaper meals. they even scoffed at faster food prices Industry stalwarts like McDonald’s say the standards are too high.
