Popular Restaurant Now Makes An Unexpected Closure in New York

A popular restaurant now makes an unexpected closure in New York despite surviving a recent wave of companywide shutdowns.

TGI Fridays’ downtown Buffalo location at the Holiday Inn Express & Suites Buffalo-Downtown is now shutting down.

The Buffalo, New York location has already found a replacement for the restaurant after it closes.

Buffalo Hotel Associates LLC, an affiliate of Visions Hotels Inc. and owner of the Holiday Inn, has informed the City of Buffalo of its intent to apply for a liquor license at the 601 Main St. site for a new restaurant.

A legal assistant at the law firm representing the company confirmed that a new restaurant will replace the TGI Fridays.

Additionally, on April 19, Donovan Real Estate Services listed the space as available for lease starting June 30, 2024, or sooner with a 30-day notice.

This location isn’t the only TGI Fridays that has closed its doors in the past year.

TGI Fridays has announced the closure of 36 underperforming stores across 12 states as of January 2024.

According to CEO Weldon Spangler, these sudden closures are part of the restaurant chain’s efforts to streamline operations and “revitalize the Fridays brand”.

Along with the closures, TGI Fridays announced it will sell eight of its previously corporate-owned restaurants in the Northeast to Ray Blanchette, the company’s former CEO.

Regarding the store closures, TGI Fridays states it is providing “more than 1,000 transfer opportunities” to employees at the affected locations.

This offer covers over 80% of the workforce impacted by the closures, reports The-Sun.

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

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Market News Today - Popular Restaurant Now Makes An Unexpected Closure in New York.
Market News Today – Popular Restaurant Now Makes An Unexpected Closure in New York.

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 - Popular Restaurant Now Makes An Unexpected Closure in New York.
Market News Today – Popular Restaurant Now Makes An Unexpected Closure in New York.

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