TGI Fridays Malaysia is not involved in the US Chapter 11 filing

5 November 2024

KUALA LUMPUR: TGI Fridays Malaysia reassured customers that local franchise restaurants will continue to operate as usual and remain unaffected by the recent Chapter 11 filing by TGI Fridays Inc. in the United States.

Craveat International Sdn Bhd, a wholly owned subsidiary of Techna-X Berhad, serves as the Master Franchisee and developer for TGI Fridays Malaysia.

This entity operates under a franchise agreement with TGI Fridays Franchisor, LLC, which is distinct from TGI Fridays Inc. and is not impacted by the ongoing restructuring in the U.S.

TGI Fridays Franchisor, LLC has successfully franchised the brand to 56 franchisees across 41 countries. All franchise locations, both domestic and international, are independently owned and therefore not included in TGI Fridays Inc.'s Chapter 11 proceedings. As such, they remain open and committed to 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 reorganise 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 operates more than 400 restaurants globally, committed to delivering That Fridays Feeling™ to guests worldwide.

Meanwhile, they will open a new outlet at Mid Valley Megamall, Kuala Lumpur, in November 2024 and reopen the Sunway Pyramid outlet in December 2024. A new outlet will be launched in Putrajaya in the first half of 2025.

"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 our guests know and love."

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.

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.