Massive Restaurant is Now Closing a Major Location in Tennessee

A massive restaurant is now closing a major location in Tennessee following an opposite trend of the company’s expansion plans.

Next month, the Cheesecake Factory located at the Wolfchase Galleria in Memphis will be closing its doors for good.

The news also comes as a shock to its employees.

This location, which opened in 2015, will be officially closing on July 14, as confirmed by the manager to local CBS affiliate WREG-TV.

Although the manager confirmed the restaurant’s closure, he did not confirm why the location is shutting down.

And employees are in the dark as to why as well.

In fact, workers said they found out about the closure, and subsequent termination of their jobs, just this week, reports The-Sun.

“We just hope the staff members who have been there a long time are able to find something,” location manager Jennifer Madrigao said.

“A place like Cheesecake factory relocates management, but as far as veteran staff — not everyone is able to relocate,” she explains.

The closure follows an opposite trend for the restaurant in recent years.

In fact, some residents suggest they need to take their concerns to city hall and demand action.

“I’m calling city hall to find out what the economic planning team is doing to keep and bring businesses to the city,” Lele Hughhes, a resident in the community, said on Facebook.

Cheesecake Factory, unlike most chains at this time, are in a growth phase.

This means they plan on as many new locations as possible.

In the last quarter of 2023 alone, the company opened nine new restaurants.

“During the quarter, we opened nine new restaurants to strong consumer demand,” said company Chairman and Chief Executive Officer, David Overton, in a press release at the time.

“We believe we are well-positioned to build on this momentum and continue accelerating unit growth to achieve our longer-term development objectives,” he continued.

Then in May, the company reported another five locations opened across the country in the first quarter of this year.

Right now, the company owns and operates 335 restaurants throughout the United States and Canada.

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Also Read: An Unexpected Retailer Is Now Closing All Stores in Illinois

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Market News Today - Massive Restaurant is Now Closing a Major Location in Tennessee.
Market News Today – Massive Restaurant is Now Closing a Major Location in Tennessee.

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.

Also Read: Retirees Will Now Receive More Money For Social Security

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Market News Today - Massive Restaurant is Now Closing a Major Location in Tennessee.
Market News Today – Massive Restaurant is Now Closing a Major Location in Tennessee.

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