TGI Friday's Bankruptcy: Fate Of Remaining NJ Locations Murky

NEW JERSEY —The future of TGI Friday's remaining New Jersey restaurants is uncertain after the casual dining chain filed for Chapter 11 bankruptcy protection on Saturday.

TGI Friday's had 270 restaurants as recently as last year, but that number has been trimmed to 163 after 36 locations were shuttered in January and dozens more closed last month.

This includes restaurants in Bridgewater, Cherry Hill, North Brunswick, and Watchung, which suddenly closed at the end of October. And in January, the company closed locations in Marlton, Iselin, Hackensack, Wayne, Eatontown, Springfield and Princeton.

The bankruptcy affects TGI Friday's’ parent company, which operates 39 restaurants, and not the franchisees that control the remaining locations. The company said in a statement that it has secured financing so that all restaurants will operate as usual during the bankruptcy proceedings.

“The next steps announced today are difficult but necessary actions to protect the best interests of our stakeholders, including our domestic and international franchisees and our valued team members around the world,” Rohit Manocha, TGI Fridays’ executive chairman, said in a statement.

While the chain did not indicate if additional closures are planned, the statement said Friday's plans to "explore strategic alternatives in order to ensure the long-term viability of the brand."

According to the TGI Friday's website, the chain has 8 remaining locations in New Jersey:

• Brick
• Burlington Township
• East Windsor
• Linden
• Manahawkin
• Toms River
• Turnersville
• West Orange

Patch's Eric Heyl contributed to this report.