Dallas-based TGI Fridays has announced the sale of its five corporately owned locations at Dallas-Fort Worth International Airport as part of its ongoing bankruptcy proceedings.
The restaurant chain has agreed to sell the DFW outlets, along with four locations in Maryland, to a franchise group specializing in operating restaurants at airports and cruise terminals. The deal is valued at $34.5 million.
Proceeds from the sale will be used to repay a $24 million bankruptcy loan, according to company officials. The move is part of a broader strategy to streamline operations and stabilize the company's financial position during bankruptcy restructuring.
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