An unexpected restaurant is now closing in Tennessee, leading to more than one hundred employees losing their job.
The Cheesecake Factory in Memphis is closing its doors permanently.
Management confirmed that July 14 marks the final day of operations for the semi-casual restaurant chain.
The restaurant has been a staple of Wolfchase Galleria since it opened in September 2015, per Commercial Appeal.
Alethea Rowe, senior director of Public Relations and Global Branding with The Cheesecake Factory Incorporated, released this statement to The Commercial Appeal last month:
“After extensive review and analysis, the company made the difficult decision to discontinue operation of our restaurant in Memphis.
We are working with our staff to help transition them to other opportunities, including transfers to our restaurants in other areas.
We have enjoyed being a part of the Memphis community over the last nine years and would like to thank our guests for their patronage.”
The Cheesecake Factory Incorporated currently operates 338 locations with brands like North Italia, Flower Child and, of course, The Cheesecake Factory.
A little more than 200 of its locations are The Cheesecake Factory restaurants, including six in Tennessee.
The Wolfchase Galleria restaurant is the only location in West Tennessee.
Simon Property Group, which manages Wolfchase Galleria, did not immediately respond to requests for comment.
The restaurant brand doesn’t appear to be struggling, according to its most recently released quarterly earnings report.
The May 8 report shows The Cheesecake Factory Incorporated saw an increase in revenue to $891.2 million, compared to $866.1 million from the same period last year.
That same report projects the opening of 22 restaurants in 2024, including “three to four” The Cheesecake Factory locations.
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Also Read: An Unexpected Retailer Is Now Closing All Stores in Illinois
Other Economy News Today
An unexpected restaurant now abruptly closes 7 locations in one state after revealing plans to shutter a total of 36.
TGI Fridays is closing a total of seven restaurants in one state as part of the company’s ongoing growth strategy.
This comes after the chain abruptly closed 36 locations across 12 states in at the beginning of the year, per The-Sun.
The restaurant chain will pull the plug on seven locations across the state of New Jersey in the coming weeks.
Today, Fridays will welcome in famished diners at its location in Brick for the final time.
“As we continue along our path of transformation to revitalize the Fridays brand and implement a long-term growth strategy, we see a bright future for TGI Fridays,” said Weldon Spangler, CEO of TGI Fridays earlier this week.
“We are at the helm of a pivotal moment that will allow us to explore boundless advancement, expansion, and innovation to keep delivering ‘That Fridays Feeling’ that our fans know and love.”
Before the closures, TGI Fridays had about 270 US locations, according to the company’s website.
“As part of the store closures, TGI Fridays is offering more than 1,000 transfer opportunities, which represents over 80% of total impacted employees,” the company previously said in a statement.
“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,” said Ray Risley, US president and chief operating officer, in the release.
Eight other locations were sold to former CEO Ray Blanchette, a longtime stakeholder who will acquire the previously corporate-owned restaurants.
The sale comes as major changes have been made to the brand’s leadership, including the news of Weldon Spangler being made CEO.
“As we continue along our path of transformation to revitalize the Fridays brand and implement a long-term growth strategy, we see a bright future for TGI Fridays,” said Spangler in a statement.
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