KUALA LUMPUR: TGI Fridays Malaysia has reassured its customers that the local franchise restaurants across the country will continue to operate as usual, unaffected by the recent Chapter 11 bankruptcy filing by TGI Fridays Inc. in the US.

Craveat International Sdn Bhd, a wholly owned subsidiary of Techna-X Bhd, is the master franchisee and developer for TGI Fridays Malaysia.

In a statement today, TGI Fridays Malaysia said Craveat International operates under the franchise agreement with TGI Fridays Franchisor, LLC, which is separate from TGI Fridays Inc. and is not impacted by the restructuring in the US.

"TGI Fridays Franchisor, LLC has franchised the brand to 56 franchisees in 41 countries. Allof these franchise locations, both domestic and international, are independently owned and therefore not included in TGI Fridays Inc.'s Chapter 11 process," it said.

To ensure continuity for franchisees worldwide, TGI Fridays Franchisor, LLC has established a Transition Services Agreement to maintain support services during this period.

"These measures allow franchise operations, including those in Malaysia, to continue business without disruption," said TGI Fridays Malaysia.

TGI Fridays Inc, which oversees 39 corporate-owned restaurants in the US, filed for Chapter 11 protection on November 2, 2024, in Dallas, Texas.

This legal step allows TGI Fridays Inc. to reorganise and restructure its financial operations to ensure long-term stability.

The filing impacts only corporate-owned restaurants in the US, while franchise locations worldwide remain unaffected.

TGI Fridays continues to operate more than 400 restaurants globally, committed to delivering That Fridays Feeling to guests worldwide.

In addition, TGI Fridays Malaysia chief executive officer Lee Yew Jin said the company is thrilled to be expanding in Malaysia and bringing more opportunities for its guests to experience That Fridays Feeling.

"Our local restaurants remain committed to delivering the great food, service, and celebrationthat our guests know and love," Lee added.

https://www.nst.com.my/business/corporate/2024/11/1129583/tgi-fridays-malaysia-unaffected-us-bankruptcy-filing