The accepted offer by the Mexico-based franchisee bests one by former TGI Fridays CEO Ray Blanchette
Mera Global LLC, a Mexico-based company, has been awarded the purchase of five TGI Fridays units at the Dallas-Fort Worth International Airport and several in Maryland, a bankruptcy court in North Texas has ruled.
A judge ruled in TGI Fridays Chapter 11 bankruptcy case that Mera Global and its owner, Rafael Aguirre, were the high bidders at $34.5 million.
Mera is privately held with outlets in non-traditional locations such as airports and cruise ports. The Cancun, Mexico-based company franchises such brands as Margaritaville, Johnny Rockets, Bubba Gump and Panda Express.
Ray Blanchette, the former Fridays CEO, and his company, Sugarloaf Concessions, LLC also bid on the units.
The sale was approved the same day the Wall Street Journal reported Blanchette was tapped to manage most of TGI Fridays’ locations.
The casual-dining brand filed for Chapter 11 bankruptcy protection in November and has more than 400 locations in the U.S. and internationally.
In October, the company’s U.K.-based master franchisee, Hostmore, filed for administration (The U.K. equivalent of bankruptcy) and put its 87 stores up for sale after its reverse takeover plan of the entire Friday’s system failed.
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