TGI Fridays has shut down over a dozen U.S. locations in the past month, including six closures this week, as the casual-dining chain continues to face challenges.
The closures, primarily in the East Coast, Southeast, and Midwest, follow the shutdown of 36 underperforming restaurants about 10 months ago as part of a larger restructuring effort.
Since then, the company has lost control of most of its assets, and a planned acquisition by U.K. franchisee Hostmore PLC collapsed.
The reasons for the recent closures remain unclear, though signs at closed restaurants mentioned a “difficult decision” and directed customers to other locations.
TGI Fridays has been struggling as consumer preferences shift away from traditional casual-dining brands. The company has shut down half of its U.S. locations over the past decade, with a 15% decline in sales last year. It has also cycled through four CEOs since 2023.
Currently, TGI Fridays operates 215 U.S. locations.
Last month, a trustee removed the chain from managing its own business securitization, due to an overpayment of a management fee. This led Hostmore to cancel its acquisition plans, and the franchisee later filed for the U.K. equivalent of bankruptcy, closing 35 of its own locations.
Founded in 1965 in New York City, TGI Fridays began as a singles bar before expanding into one of the first casual-dining chains, growing into an international brand with over 600 restaurants worldwide as of last year.
