AM I NEXT? NO LOVE AT TGI FRIDAYS

Dallas, Texas-based TGI Fridays, a casual dining restaurant chain focusing primarily on American cuisine, has announced the closure of 49 additional locations. The company has filed for Chapter 11 bankruptcy.

Over 200 employees are impacted by the closures.

According to a company statement, "The primary driver of our financial challenges resulted from COVID-19 and our capital structure. This restructuring will allow our go-forward restaurants to proceed with an optimized corporate infrastructure that enables them to reach their full potential."

Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. We see good people being laid off through no fault of their own. Just because something terrible hasn't happened yet doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. While many employees can read the writing on the wall, why do most assume it’s targeted at someone else? Are you now wondering, Am I Next?

AM I NEXT? NO LOVE AT PANERA BREAD

St Louis, Missouri-based Panera Bread, operator of a chain of bakery-café fast-casual restaurants, has announced a restructuring of its two support centers in St. Louis and Newton, Massachusetts, to streamline operations and improve efficiencies.

The reduction in force will impact an unknown number of support employees, including positions in customer care, IT, and project management.

According to CEO José Dueñas, “We have made some difficult decisions to reshape the structure of our support center teams, which includes reducing and reassigning some roles across the organization, As we evolve and grow, so must our ways of working. We need to be simpler, nimbler, and faster than ever before, operating with even more efficiency, and empowering our teams to win. We must change how we operate to remove silos and simplify leadership reporting lines to make faster decisions and drive more consistent execution. And finally, we must ensure our corporate teams are closer to our cafes, and well positioned to support and empower our General Managers, who are at the heart of our culture."

Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. We see good people being laid off through no fault of their own. Just because something terrible hasn't happened yet doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. While many employees can read the writing on the wall, why do most assume it’s targeted at someone else? Are you now wondering, Am I Next?

AM I NEXT? IS THE HANDWRITING ON THE WALL AT RED LOBSTER HOSPITALITY? (05/20/24)

MAY 20, 2024 — BANKRUPTCY

In a surprise Sunday filing, the company filed for Chapter 11 protection and plans to hand control of the company to its lenders, led by Fortress Investment Group. The lenders have agreed to provide $100 million in financing to support the chain through bankruptcy. The company blames its demise on onerous leases, high labor costs, and a disastrous unlimited shrimp promotion.

MAY 15, 2024 — Original post…

Orlando, Florida-based Red Lobster Hospitality, a casual seafood-oriented dining restaurant, appears to be in serious trouble and may be contemplating filing Chapter 11 bankruptcy.

According to media reports, the company has abruptly closed more than 50 restaurants throughout the United States and in some cases, engaged TAGeX Brands to auction restaurant equipment from more than 50 Red Lobster locations. The auction is somewhat unusual as "These auctions are 'winner takes all' -- meaning each winner will receive the ENTIRE contents of the Red Lobster location they bid on."

The number of employees impacted is in the hundreds, but the company is not responding to media requests for more information.

Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. We see good people being laid off through no fault of their own. Just because something bad hasn't happened yet doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?