KUALA LUMPUR, Malaysia, Nov. 5, 2024 /PRNewswire/ -- TGI Fridays Malaysia assures customers that local franchise restaurants continue operating as usual and remain unaffected by the recent Chapter 11 filing by TGI Fridays Inc. in the United States.
TGI Fridays Malaysia Remains Unaffected as TGI Fridays Franchisor LLC Is Not Involved in the US Chapter 11 Filing
Craveat International Sdn Bhd, a wholly owned subsidiary of Techna-X Berhad, is the Master franchisee and developer for TGI Fridays Malaysia. Craveat International Sdn Bhd operates under the franchise agreement with TGI Fridays Franchisor, LLC, which is separate from TGI Fridays Inc. and is not impacted by this restructuring in the U.S.
TGI Fridays Franchisor, LLC has franchised the brand to 56 franchisees in 41 countries. All of these franchise locations, both domestic and international, are independently owned and therefore not included in TGI Fridays Inc.'s Chapter 11 process. They are open and serving customers as usual.
TGI Fridays Inc., which oversees 39 corporate-owned restaurants in the U.S., filed for Chapter 11 protection on November 2, 2024, in Dallas, Texas. This legal step allows TGI Fridays Inc. to reorganize and restructure its financial operations to ensure long-term stability. The filing impacts only corporate-owned restaurants in the U.S., while franchise locations worldwide remain unaffected. TGI Fridays continues to operate more than 400 restaurants globally, committed to delivering That Fridays Feeling™ to guests worldwide.
TGI Fridays Malaysia: Business as Usual with New Openings Ahead
TGI Fridays Malaysia remains strong and is excited to announce several new developments:
"We're thrilled to be expanding in Malaysia and bringing more opportunities for our guests to experience That Fridays Feeling™," said Mr. Lee Yew Jin, CEO of TGI Fridays Malaysia. "Our local restaurants remain committed to delivering the great food, service, and celebration that our guests know and love."
Commitment to Ongoing Franchise Support
To ensure continuity for franchisees worldwide, TGI Fridays Franchisor, LLC has established a Transition Services Agreement to maintain support services during this period. These measures allow franchise operations, including those in Malaysia, to continue business without disruption.
About TGI Fridays Malaysia
As the world's first casual bar and grill, TGI Fridays has long been a place for celebration, serving classic American dishes and signature cocktails with a sense of fun and warmth. TGI Fridays Malaysia invites customers to experience the spirit of "In here, it's always Friday," bringing people together to celebrate life's moments, big and small.
