TGI Fridays shutters dozens of restaurants, sells others to former CEO

Jan. 4 (UPI) -- TGI Fridays announced Wednesday it had closed dozens of stores and plans to sell others to former CEO of the company Ray Blanchette.

The restaurant chain announced the sale of eight previously corporate-owned restaurants in the Northeast to Blanchette. In a statement, the company said it will also close 36 underperforming locations in select markets across the U.S.

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