Photo: Reuters
TGI Fridays’ operations in the UAE and other GCC countries remain unaffected following the company’s Chapter 11 bankruptcy filing in the US. Americana Restaurants, the exclusive franchise partner for TGI Fridays in the UAE, Kuwait, Bahrain, Qatar, Saudi Arabia, and Egypt, released a statement on Thursday, reassuring customers, stakeholders, and shareholders that TGI Fridays will continue to function smoothly in these markets.
“Our business has not been impacted by the Chapter 11 filing by TGI Fridays Inc. on November 2, 2024, in Dallas, Texas,” the company stated. On Sunday, the US-based casual dining chain TGI Fridays filed for Chapter 11 bankruptcy protection after facing prolonged financial difficulties and the collapse of a deal with UK-based Hostmore.
Following the bankruptcy announcement, the company confirmed that all franchise locations, both domestic and international, would continue to operate as usual. “Americana Restaurants operates under the franchise agreement with TGI Fridays Franchisor, which is distinct from TGI Fridays Inc and is unaffected by this restructuring in the US. TGI Fridays Franchisor has partnered with 56 franchisees in 41 countries. As these locations are independently owned, they are not affected by TGI Fridays Inc’s Chapter 11 filing,” Americana Restaurants explained.
Americana Restaurants is listed on the Abu Dhabi Securities Exchange and Saudi Stock Exchange. Its portfolio includes a variety of renowned global brands, such as KFC, Pizza Hut, Hardee’s, Krispy Kreme, Peet’s Coffee, Wimpy, TGI Friday’s, Costa Coffee, and Baskin Robbins.
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