TGI Fridays abruptly closed its Rockville Centre and Westbury locations, leaving just four locations on Long Island, days before the Dallas-based restaurant chain filed for bankruptcy on Nov. 2.
The two closures on Long Island come after CNN reported that 50 locations nationwide have been closed. And as of Oct. 30, the restaurant listed 163 remaining restaurants across the country, down from 269 a year ago.
The “primary driver of our financial challenges resulted from COVID-19 and our capital structure,” Rohit Manocha, executive chairman of TGI Fridays, told The Associated Press in a statement.
The Press reported at the start of this year that TGI Fridays locations in Bay Shore, Islandia and in Massapequa Park were closing. A release from the chain in January said it had closed what it called 36 “underperforming” restaurants as part of the “brand’s ongoing growth strategy.”
TGI Fridays is one of several national chain restaurants that are struggling financially. In June, Forbes reported that other major chains such as Applebee’s and Outback Steakhouse were closing locations for reasons also related to underperformance.
“They are strategically shuttering stores that are not meeting sales and profit expectations,” according to reporting from Forbes, which also said that financial troubles are one reason that has contributed to the closure of chains such as Boston Market and Red Lobster.
Recent reports from Bloomberg said that the chain restaurant is seeking a loan to continue operations while it pursues its Chapter 11 filing in Texas federal court.
TBI representatives did not respond to requests for comment.
