TGI Fridays locations in the UAE and other Gulf countries remain unaffected following the company’s Chapter 11 bankruptcy filing in the U.S.
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 and investors that TGI Fridays will continue to operate smoothly in these regions.
“Our business is not impacted by the Chapter 11 filing made by TGI Fridays Inc. on November 2, 2024, in Dallas, Texas,” the company stated.
The casual dining chain, TGI Fridays, based in the U.S., filed for Chapter 11 bankruptcy protection on Sunday after facing ongoing financial struggles and a failed deal with UK-based Hostmore. Despite the bankruptcy announcement, the company confirmed that all franchise locations, both in the U.S. and abroad, would keep operating normally.
“Americana Restaurants runs its business under a franchise agreement with TGI Fridays Franchisor, which is separate from TGI Fridays Inc. and not affected by this restructuring in the U.S. TGI Fridays Franchisor works with 56 franchisees across 41 countries. As these restaurants are independently owned, they remain unaffected 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. The company manages various well-known global brands, including KFC, Pizza Hut, Hardee’s, Krispy Kreme, Peet’s Coffee, Wimpy, TGI Fridays, Costa Coffee, and Baskin Robbins.
