Longtime Applebee’s franchise owner sells 21 restaurants in NYC area for $140M
Outspoken Applebee's franchise owner Zane Tankel has sold most of his restaurant portfolio to a longtime rival in a $140 million deal. Mr. Tunkel, 83, owned 23 Applebee's Grill & Bar restaurants in the New York City area, but last week sold 21 of them in a deal with New Jersey-based Dougherty Enterprises. agreed. The […]
TGI Fridays abruptly closes 36 ‘underperforming’ restaurants
Casual dining chain TGI Fridays abruptly announced it would close 36 “underperforming” restaurants across the U.S., including five in New York, as part of its “continued growth strategy.” A photo on social media shows a sign on the door of a shuttered store: “We regret to inform you that Friday's has made the difficult decision […]