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It's not looking good for the iconic restaurant brand TGI Friday's as the company shuttered 30 more restaurants this past week, including four at Las Vegas casinos.
TGI Friday's closures occurred on January 29 and are permanent at The Orleans, Sam’s Town, Aliante and Gold Coast. Employees were reportedly given just one week's notice.
All four casinos are operated by Boyd's Gaming and that company is already in the process of seeking out new tenants.
The company filed bankruptcy in Nov. 2024 and has been closing restaurants across the country, including here in South Beach on the popular tourist destination of Ocean Drive. Over a hundred stores were shuttered prior to the bankruptcy filing.
The chain is now left with 133 U.S. restaurants, per its website. That’s about half the number it had at the end of 2023, according to data from Restaurant Business sister company Technomic.
From Restaurant Business:
The Dallas-based chain has been struggling for years from declining sales and store closures. From 2008 to 2023, it lost 55% of its U.S. locations, and sales declined by 63%, according to data from Technomic.
Then last year, the company lost control of many of its assets due to an issue with its whole business securitization. Soon after, a planned merger with U.K. franchisee Hostmore fell through.
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