Posts Tagged: Resturant

Glu Hospitality Closure Leaves Vacant Spaces in Philly

Glu Hospitality Closure Leaves Vacant Spaces in Philly

Philadelphia restaurant group Glu Hospitality has shut down, splitting its 16 locations across nine concepts among new owners and leaving vacant spaces across the city. Co-founder Derek Gibbons said the company grew too quickly during the pandemic, straining its finances. Founded in 2019 by Gibbons and Tim Lu, Glu also faced lawsuits, wage theft allegations,… Read more »

TGI Fridays to Exit 80 U.S. Leases

TGI Fridays to Exit 80 U.S. Leases

A U.S. bankruptcy judge has approved TGI Fridays’ plan to exit 78 restaurant leases and its Dallas headquarters office lease, saving the chain about $1.4 million per month. This move follows the closure of several locations and TGI Fridays’ Chapter 11 filing due to financial struggles linked to the pandemic and its capital structure. The… Read more »