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TGI Fridays has closed 30 more locations since its bankruptcy filing in November. That leaves the chain with 133 restaurants in the U.S., about half as many as it had at the beginning of last year.
Twin Peaks is officially its own publicly traded company. The 115-unit sports bar chain completed its spinoff from owner Fat Brands on Thursday and began trading on the Nasdaq. Fat Brands still owns 95% of the company and will use proceeds from the IPO to pay down debt, while Twin Peaks plans to use the capital infusion to ramp up development.
Food-and-games chain Chuck E. Cheese is in the midst of a reinvention. When the chain emerged from bankruptcy in 2021, one of its first priorities was to reinvest in a brand that had become what CEO David McKillips called “dated.” $350 million later and the company seems to be reaping the rewards of that investment, which went toward an entirely remodeled system, new games and activities, new menu offerings, and new technology and content.
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