TGI Fridays Closes 50 More Locations Amid Bankruptcy Concerns, Long Island Locations Still Open for Now
TGI Fridays is closing another 50 restaurants in a dramatic restructuring effort as bankruptcy talks gain momentum. While Long Island locations, including Farmingville, Islip, Riverhead, and Valley Stream, continue to operate, the national chain’s uncertain future raises questions about how long these local favorites will remain open.
After years of scaling back, TGI Fridays’ footprint in the United States has shrunk to just 164 restaurants, a steep decline from the 215 locations it counted earlier this year. Reports from several states—including New York, New Jersey, and California—confirm that closures have been abrupt, leaving both employees and patrons surprised by the swift departures. Since January, the iconic chain has shuttered around 100 sites as it fights to regain financial stability amid shifting consumer dining trends. Three of those were on Long Island.
Signs of a potential bankruptcy filing have been looming for weeks. Reports indicate that TGI Fridays is preparing for a Chapter 11 filing in Texas, with financial advisors and lenders involved in the process.
Despite these changes, some Long Island locations have managed to hold on for now. The Farmingville location, which recently underwent renovations, and the other Long Island outposts have not been impacted by the recent wave of closures. However, with the fate of the company hanging in the balance, the safety of these locations remains in question.
The chain has not issued a direct statement addressing the closures or confirming bankruptcy plans. TGI Fridays CEO Weldon Spangler, however, expressed earlier this year that the brand is “committed to revitalization” and looking toward long-term stability. Despite these intentions, industry analysts note that Fridays has been caught in a larger trend, with legacy casual-dining brands facing heightened competition from faster, more diverse dining options.
Founded in New York City in 1965, TGI Fridays quickly established itself as a leader in the casual-dining sector.
For now, Long Islanders can continue to enjoy their favorite Fridays spots, though uncertainty hovers over the Farmingville, Islip, Riverhead, and Valley Stream locations. As TGI Fridays approaches its pivotal bankruptcy decision, the future of these local outposts remains as unpredictable as ever.
Photo: Google Maps.
