Marshalls Is Closing Stores: See Updated List of Doomed Locations for 2026
Retail analysts say the chain is swapping expensive leases for locations that offer a better long-term return.
TGI Fridays has experienced a significant reduction in its physical U.S. store footprint since filing for Chapter 11 bankruptcy protection last year. As of the end of fiscal year 2025, the casual dining chain operated 80 U.S. restaurants, a decline of 39 locations from the 119 it had at the beginning of the year. However, the amended franchise disclosure document (FDD) now reveals that at least nine more stores have closed this year, reducing the company's U.S. store count to 71.
The closure of TGI Fridays stores has affected seven states: Florida, Georgia, Indiana, Massachusetts, North Carolina, Ohio, and Pennsylvania. In Florida alone, nine restaurants have closed, bringing the state's total to five. Other states affected include Georgia, Indiana, Massachusetts, North Carolina, Ohio, and Pennsylvania, each losing one restaurant to closures. The FDD also indicates that all company-owned locations are now franchise-owned, with 11 closing last year.
As a result of the bankruptcy proceedings, 28 company-owned locations were sold to franchisees, with sales occurring across California, Maryland, New Jersey, New York, Pennsylvania, and Texas. The chain now belongs to Sugarloaf Hospitality, led by CEO Ray Blanchette. The latest FDD reveals zero projected franchised openings and zero company-owned openings for 2026. In July, Fast Company reported that there were 76 U.S. TGI Fridays locations in operation, but this number has since decreased by five additional stores.
Written by urgent.news from Fast Company's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
