Dallas — As part of a company-wide revitalization initiative, TGI Fridays® plans to close 36 underperforming locations in select markets across the U.S. The company has also sold eight previously corporate-owned restaurants in the Northeast to former CEO Ray Blanchette, who will now lead the locations into a new phase of revitalization.
The news follows recent moves to bolster TGI Fridays’ leadership team, including the recent appointments of Weldon Spangler to chief executive officer, Ray Risley to U.S. president and chief operating officer and Nik Rupp to president and COO of international and chief financial officer.
Regarding the 36 store closures, TGI Fridays is offering more than 1,000 transfer opportunities, which represents over 80% of total impacted employees.
“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,” says Risley. “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.”
TGI Fridays, the world’s first casual bar and grill, was founded more than 50 years ago. Today it has more than 650 restaurants in 51 countries. For more information, visit www.Fridays.com.
SOURCE: TGI Fridays