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## TGI Fridays to Close 36 Underperforming Locations Across the U.S.

TGI Fridays, the popular fast-casual eatery, has announced the closure of 36 “underperforming” locations across the United States as part of a broader restructuring effort. The closures are expected to affect a significant number of employees, with the company stating that it is offering at least 1,000 transfer opportunities to affected workers. This accounts for more than 80% of the employees who will be impacted by the restaurant closures.

The states that will see the most TGI Fridays closures include New Jersey, where seven locations will be shuttered, followed by six closures in Massachusetts and five in New York and Texas. Additionally, four TGI Fridays locations in Virginia will be shut down, with other closures taking place in California, Colorado, Connecticut, Florida, Maryland, and New Hampshire.

In addition to the closures, the restaurant has also announced the sale of eight corporate-owned restaurants in the Northeast to its former CEO, Ray Blanchette. This decision is part of the company’s efforts to optimize and streamline its operations, as stated by Ray Risley, the U.S. president and chief operating officer at TGI Fridays. He emphasized that these measures are aimed at strengthening the franchise model and creating new opportunities for the brand’s future.

The recent leadership changes at TGI Fridays, including the appointment of CEO Weldon Spangler in October, have signaled a period of transformation and revitalization for the brand. Spangler, who has previously held executive roles at notable companies such as Subway, Dunkin’, Papa MurphyÔÇÖs, and Starbucks, expressed optimism about the future of TGI Fridays and its potential for long-term growth.

AI legalese decoder can help in this situation by assisting TGI Fridays in navigating the legal and regulatory aspects of closing underperforming locations. The tool can analyze complex legal documents, contracts, and regulations, providing clear and concise interpretations to ensure compliance and mitigate potential risks associated with the closures. Additionally, AI legalese decoder can help identify opportunities for optimizing operations and streamlining processes, ultimately supporting TGI Fridays in executing its restructuring plan and achieving its long-term growth strategy.

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