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News / Business

TGI Fridays abruptly shutters restaurants amid bankruptcy rumors

By Theresa Braine, New York Daily News
Published: October 31, 2024, 7:33am

Casual-dining chain TGI Fridays has abruptly closed a slew of restaurants across the country, according to numerous reports.

The inventor of the fern bar, known for its hearty menu and rich, chocolatey desserts, is now reportedly on the verge of filing for bankruptcy, trade publication Restaurant Business reported.

New York State saw closures in Syracuse, Rochester, Newburgh, Saratoga Springs and Amherst, according to the Binghamton Press & Sun Bulletin. New Jersey lost five locations, reported NJ.com, while all of the TGI Fridays in Connecticut were shut down, according to the Hartford Courant.

“We regret to inform you that Fridays has made the difficult decision to close our restaurants,” the company said in a note posted at the Connecticut locations. “Unfortunately, we do not have a nearby location, but look for us in airports and other cities across the country.”

The latest spate comes on top of 36 restaurants that were closed across the country in January, five of them in New York, with 12 more nationwide in September.

Two weeks ago, the chain had 215 restaurants, and as of Wednesday there were just 164. The total closed this year so far is about 100, Restaurant Business noted. Besides New York, New Jersey and Connecticut, restaurants were shut down in California, Ohio, Florida and Missouri.

The private-equity-owned company did not respond to a Daily News request for comment and did not make a formal announcement about the closures.

“Over the last few days, we have had to make the difficult decision to close some of our restaurant locations,” TGI Fridays said on Wednesday in response to comments on its Facebook page alleging staff had been left high and dry. “These decisions were not taken lightly and are especially hard because they impact people. We want to thank these people for their hard work and wish them the best as they look for their next opportunity.”

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