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- TGI Fridays closed 36 under-performing restaurants on January 3.
- The chain closed locations in 12 states, including California, Florida, New Jersey, and Massachusetts.
- An analyst said he expects more casual dining chains to close locations this year.
Casual dining chain TGI Fridays said Wednesday it closed 36 company-owned restaurants throughout the US this week, impacting hundreds of workers.
The company also said it unloaded eight company restaurants by selling them to the chain's former CEO, Ray Blanchette.
TGI Fridays is closing corporate stores as part of an ongoing effort to transform the brand under new leadership. TGI Fridays has had two CEOs since Blanchette left the chain in May.