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TGI Fridays has closed 36 restaurants nationwide and sold eight back to its former CEO, the company said this week.
The company is offering more than 1,000 transfer opportunities to 80% of affected employees, it said.
“We see a bright future for TGI Fridays as we continue on our path of transformation to revitalize the Fridays brand and execute our long-term growth strategy,” said TGI Fridays CEO Weldon Spangler. Report Published by the company.
Eight stores in the Northeast were sold to former CEO Ray Blanchett, who the company said will “lead a new phase of revitalizing the locations.”
The company recently reshuffled its executive leadership team, with Spangler named CEO, Ray Risley named Americas president and chief operating officer and Nick Rupp named chief financial officer and head of international markets.
There are now 237 TGI Silver locations in the United States