{"id":2250199,"date":"2024-05-22T10:09:03","date_gmt":"2024-05-22T14:09:03","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bidenomics-restaurant-bloodbath-continues-as-tgi-fridays-joins-applebees-and-red-lobster-with-closures\/"},"modified":"2024-05-22T10:15:33","modified_gmt":"2024-05-22T14:15:33","slug":"bidenomics-restaurant-bloodbath-continues-as-tgi-fridays-joins-applebees-and-red-lobster-with-closures","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bidenomics-restaurant-bloodbath-continues-as-tgi-fridays-joins-applebees-and-red-lobster-with-closures\/","title":{"rendered":"Bidenomics Impact: TGI Friday&#8217;s Joins Applebee&#8217;s and Red Lobster in Closures"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbidenomics-restaurant-bloodbath-continues-as-tgi-fridays-joins-applebees-and-red-lobster-with-closures%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2250199&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>The impact of\u2063 Bidenomics is evident \u200bas chains like\u200b TGI Friday&#8217;s face closures due to financial constraints. TGI Friday&#8217;s <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bar-association-drops-lsat-requirement-to-increase-diversity\/\" title=\"Bar Association Drops LSAT Requirement to Increase Diversity\">closed multiple locations<\/a>, signaling the\u2064 challenges faced by\u200c casual dining chains. The <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/corrupt-media-pollsters-are-using-dishonest-tactics-to-drag-america-into-war\/\" title=\"Corrupt Media Pollsters Are Using Dishonest Tactics To Drag America Into War\">current economic climate<\/a> has led to closures \u2062across various chain restaurants, a trend that highlights the repercussions of economic policies on the dining industry. The repercussions of Bidenomics are visible as casual dining chains like TGI Friday&#8217;s struggle with closures amid financial difficulties. The \u2063closure of multiple TGI Friday&#8217;s locations reflects \u200cthe challenges encountered by such establishments. This trend of closures \u2062in the restaurant industry underscores the influence of economic policies on the\u2063 dining sector.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<header> <a href=\"https:\/\/www.westernjournal.com\/commentary\/\">  Commentary <\/a>   <span> <\/p>\n<p><a href=\"https:\/\/www.westernjournal.com\/author\/cillianzeal\/\">  <\/a> <\/p>\n<p> <span>   By <a href=\"https:\/\/www.westernjournal.com\/author\/cillianzeal\/%20\"><span>C. Douglas Golden<\/span><\/a> <\/span> <span>   May 22, 2024 at 6:00am <\/span> <\/span>  <\/header>\n<section>\n<p>When people can barely afford to eat at home, they can\u2019t exactly go out to dinner. That\u2019s a lesson in Bidenomics that several chains are finding out the hard way.<\/p>\n<p>The latest chain casual restaurant to feel the pinch is <a href=\"https:\/\/www.westernjournal.com\/mom-takes-upset-autistic-son-tgi-fridays-meal-sees-receipt\/\" target=\"_blank\" rel=\"noopener\">TGI Friday\u2019s<\/a>; according to an article in the <a href=\"https:\/\/www.dailymail.co.uk\/yourmoney\/article-13443921\/TGI-Fridays-restaurant-closures.html\" target=\"_blank\" rel=\"noopener\">U.K.\u2019s Daily Mail<\/a> on Tuesday, the restaurant announced it had closed one restaurant in New Jersey on Sunday and was planning to close another in Buffalo, New York in June.<\/p>\n<p>That would bring the total for restaurants the family dining chain has closed to 40 this year, including eight in New Jersey and six in New York.<\/p>\n<p>\u201cWe\u2019ve identified opportunities to optimize and streamline our operations to ensure we are best positioned to meet \u2014 and exceed\u201d a \u201cbrand promise\u201d to close \u201cunderperforming\u201d restaurants, said Ray Risley, TGI Friday\u2019s U.S. president.<\/p>\n<p>According to the Daily Mail, in addition to the Brick, New Jersey, outlet being immediately closed down, a restaurant on <a href=\"https:\/\/www.westernjournal.com\/ap-buffalo-bills-agree-trade-receiver-stefon-diggs-houston-texans-ap-source-says\/\" target=\"_blank\" rel=\"noopener\">Buffalo\u2019s<\/a> Main Street, just underneath a Holiday Inn Express, was also scheduled to be closed.<\/p>\n<p>That left the chain with roughly 210 restaurants in the United States, meaning nearly a fifth of its locations had been shuttered in 2024 alone.<\/p>\n<p>Applebee\u2019s, meanwhile, announced earlier in the month that it was going to cut up to 35 locations in 2024 after shuttering 46 in 2023. The chain said it was \u201can incredibly difficult decision,\u201d and a \u201clast resort,\u201d according to President Tony Moralejo,\u00a0the <a href=\"https:\/\/www.dailymail.co.uk\/yourmoney\/consumer\/article-13396509\/applebees-close-35-locations-2024.html\" target=\"_blank\" rel=\"noopener\">Daily Mail<\/a> noted.<\/p>\n<p>That chain still has more than 1,500 locations.<\/p>\n<p>A bigger Bidenomics mess can be seen in the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/proterra-ceo-gareth-joyce-remains-member-of-top-biden-advisory-council\/\" title=\"Proterra CEO Gareth Joyce still part of Biden's key advisory council.\">recent\u00a0bankruptcy filing<\/a> by seafood giant Red Lobster.<\/p>\n<div id=\"firefly-poll-container\">\n<p>Should Joe Biden lose his job in November?<\/p>\n<\/p><\/div>\n<p>On Sunday, the chain announced it was filing for Chapter 11 bankruptcy in Florida, saying it needed protection to \u201cdrive operational improvements, simplify the business through a reduction in locations, and pursue a sale of substantially all of its assets as a going concern.\u201d<\/p>\n<p>The company will likely be sold to its creditors via a deal known in the business as a \u201cstalking horse arrangement,\u201d in which a bankrupt company can choose who or what buys it.<\/p>\n<p><a href=\"https:\/\/www.westernjournal.com\/red-lobster-files-bankruptcy-announces-stalking-horse-sale\/\" target=\"_blank\" rel=\"noopener\">In the filing<\/a>, the restaurant said that traffic at its restaurants had only \u201cmarginally improved\u201d since pandemic-era restrictions began being lifted, despite the fact that \u2014 under normal circumstances \u2014 the public would be raring at the bit to go out and eat after having to practically sit at home behind two masks and a face-shield for two years in some more stringent jurisdictions.<\/p>\n<p>Yet, the company lost $76 million net in fiscal year 2023. Part of the blame comes from a deal gone wrong to boost traffic: the $20 all-you-can-eat shrimp buffet.<\/p>\n<p>In fact, according to the <a href=\"https:\/\/www.dailymail.co.uk\/yourmoney\/article-13422909\/Red-Lobster-Endless-Shrimp-deal-business-bankruptcy.html\" target=\"_blank\" rel=\"noopener\">Daily Mail<\/a>, Red Lobster majority owner Thai Union lost $11 million in the three months after the promotion began.<\/p>\n<p>To be fair, executives decided, quite stupidly, to keep the deal going for six months despite the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/historic-significance-of-georgia-senate-contests\/\" title=\"Historic Significance of Georgia Senate Contests\">red ink<\/a>.<\/p>\n<p>\u201cWe knew the price was cheap, but the idea was to bring more traffic in the restaurants,\u201d said Ludovic Garnier, CFO for Red Lobster.<\/p>\n<p>\u201cSo we wanted to boost our traffic, and it didn\u2019t work,\u201d he said.<\/p>\n<p>\u201cFor those who have been in the U.S. recently, $20 was very cheap. And the rationale for this promotion was to say we knew the price was cheap, but the idea was to bring more traffic in the restaurants,\u201d Garnier added.<\/p>\n<p>\u201cBut something, which was different from our expectation, is the proportion of the people selecting these promotions was much higher compared to expectation.\u201d<\/p>\n<p>Executives probably should have gotten the hint when restaurant guests started going viral with the number of shrimp they could stuff down their gaping maw. One woman reportedly ate 108 <a href=\"https:\/\/www.westernjournal.com\/red-lobsters-ultimate-shrimp-deal-backfires-cash-strapped-americans-eat-chain-11-million-loss\/\" target=\"_blank\" rel=\"noopener\">shrimp<\/a> in four hours: \u201cI set a new record at my local Red Lobster, this is my greatest achievement in life,\u201d the woman said in the video.<\/p>\n<p>Yes, congratulations on being the viral metaphor for why a whole restaurant chain went bankrupt. Your parents must be proud.<\/p>\n<p>To be fair, though, the fact that $20 is now so \u201ccheap\u201d it literally drives Red Lobster to bankruptcy \u2014 yet was the only way the restaurant seemed to be able to establish foot traffic at its restaurants after COVID-19 restrictions lifted \u2014 is arguably the perfect object lesson in how <a href=\"https:\/\/www.westernjournal.com\/doom-spending-bidenomics-blame-americas-crippling-spending-obsession\/\" target=\"_blank\" rel=\"noopener\">Bidenomics<\/a> works.<\/p>\n<p>Ideally, as the masks came off and the social distancing eased, people should have been happily returning to the things they were doing beforehand, if not more so. Instead, we\u2019ve seen major drop-offs in key sectors like restaurant traffic and movie-theater box office.<\/p>\n<p>In the latter case, perhaps part of it is that viewers are tired of woke Hollywood and the same old superhero retreads \u2014 but a lot of it has to do with the fact America\u2019s taken a hard hit in its wallet over the past few years, especially under an administration that first pretended <a href=\"https:\/\/www.westernjournal.com\/bidens-treasury-secretary-makes-major-inflation-admission-wrong\/\" target=\"_blank\" rel=\"noopener\">inflation was transitory<\/a>, then <a href=\"https:\/\/www.westernjournal.com\/jeffries-lies-bidens-record-inflation-growth-wages-deficits\/\" target=\"_blank\" rel=\"noopener\">tried to downplay its effects<\/a>, then pretended President Joe Biden arrived in office with a <a href=\"https:\/\/www.westernjournal.com\/fact-check-biden-claimed-inflation-9-entered-office-truth-paints-much-different-story\/\" target=\"_blank\" rel=\"noopener\">9 percent inflation rate<\/a>.<\/p>\n<p>Then there are labor costs; that hasn\u2019t gotten any cheaper, particularly in states where the minimum wage is determined by the Democrats. Biden\u2019s answer? \u201c<a href=\"https:\/\/www.westernjournal.com\/biden-losing-creepy-joe-bizarrely-leans-forward-whispers-reporters\/\" target=\"_blank\" rel=\"noopener\">Pay them more<\/a>,\u201d of course. Yet, as so many waiters and busboys are finding out this year, the real minimum wage is always $0.<\/p>\n<p>This is Bidenomics in action, folks. America can\u2019t afford four more years of it, and TGI Friday\u2019s employees certainly can\u2019t, either.<\/p>\n<hr>\n<div>\n<p><b><i>An Important Message from Our Staff:<\/i><\/b><\/p>\n<p><i><span>In just a few months, the world is going to change forever. The 2024 election is the single most important election of our lifetime. <\/span><\/i><\/p>\n<p><i><span>We here at The Western Journal are committed to covering it in a way the establishment media simply will not: We will tell the truth, and they will lie.<\/span><\/i><\/p>\n<p><i><span>But Big Tech and the elites don\u2019t want the truth out. That\u2019s why they have cut us off from 90% of advertisers. Imagine if someone cut your monthly income by 90%. That\u2019s what they\u2019ve done to people like us. <\/span><\/i><\/p>\n<p><i><span>As a staff, we are asking you to <\/span><\/i><a href=\"https:\/\/www.westernjournal.com\/subscribe\/?utm_source=site&#038;utm_medium=westernjournalism&#038;utm_campaign=authorpitch\"><i><span>join us<\/span><\/i><\/a><i><span>  to fight this once-in-a-lifetime fight. Without you not only will The Western Journal fail, but America will fail also. As Benjamin Franklin said, \u201cWe must all hang together, or assuredly we shall all hang separately.\u201d<\/span><\/i><\/p>\n<p><i><span>Will you support The Western Journal today and <\/span><\/i><a href=\"https:\/\/www.westernjournal.com\/subscribe\/?utm_source=site&#038;utm_medium=westernjournalism&#038;utm_campaign=authorpitch\"><i><span>become a member<\/span><\/i><\/a><i><span>? <\/span><\/i><\/p>\n<p><i><span>A Western Journal <\/span><\/i><a href=\"https:\/\/www.westernjournal.com\/subscribe\/?utm_source=site&#038;utm_medium=westernjournalism&#038;utm_campaign=authorpitch\"><i><span>Membership<\/span><\/i><\/a><i><span>  costs less than one coffee and breakfast sandwich each month, and it gets you access to ALL of our content \u2014 news, commentary, and premium articles. You\u2019ll experience a radically reduced number of ads, and most importantly you will be vitally supporting the fight for America\u2019s soul in 2024.<\/span><\/i><\/p>\n<p><i><span>This is the time. America will live or die based on what happens this year. Please <\/span><\/i><a href=\"https:\/\/www.westernjournal.com\/subscribe\/?utm_source=site&#038;utm_medium=westernjournalism&#038;utm_campaign=authorpitch\"><i><span>join us<\/span><\/i><\/a><i><span>  to get the real truth out and to fight the elites, Big Tech, and the people who want America to fail. Together, we really can save the country.<\/span><\/i><\/p>\n<p><b><i>Thank you for your support!<\/i><\/b><\/p>\n<p><i><span>P.S. <\/span><\/i><a href=\"https:\/\/www.westernjournal.com\/subscribe\/?utm_source=site&#038;utm_medium=westernjournalism&#038;utm_campaign=authorpitch\"><i><span>Please stand with us<\/span><\/i><\/a><i><span>!<\/span><\/i><\/p>\n<\/p><\/div>\n<div id=\"author-info-44670\">\n<p><a href=\"https:\/\/www.westernjournal.com\/author\/cillianzeal\/\">  <\/a> <\/p>\n<div>\n<p><label for=\"summary-tab-radio-44670\">Summary<\/label><label for=\"more-info-tab-radio-44670\">More<span> Biographical Information<\/span><\/label><label for=\"posts-tab-radio-44670\">Recent<span> Posts<\/span><\/label><label for=\"contact-tab-radio-44670\" onclick=\"if( typeof grecaptcha=='undefined' ) { let cap_s=document.createElement( 'script' ); cap_s.src='https:\/\/www.google.com\/recaptcha\/api.js?render=6LeJFcsUAAAAAPsIEqvB1EebWbZfqRUe6ebMpGy7'; document.body.appendChild( cap_s ); }\">Contact<\/label><\/p>\n<div>\n<p>C. Douglas Golden is a writer who splits his time between the United States and Southeast Asia. Specializing in political commentary and world affairs, he&#8217;s written for Conservative Tribune and The Western Journal since 2014.<\/p>\n<\/p><\/div>\n<div>\n<p>  C. Douglas Golden is a writer who splits his time between the United States and Southeast Asia. Specializing in political commentary and world affairs, he&#8217;s written for Conservative Tribune and The Western Journal since 2014. Aside from politics, he enjoys spending time with his wife, literature (especially British comic novels and modern Japanese lit), indie rock, coffee, Formula One and football (of both American and world varieties). <\/p>\n<p>  Birthplace <\/p>\n<p>  Morristown, New Jersey <\/p>\n<p>  Education <\/p>\n<p>  Catholic University of America <\/p>\n<p>  Languages Spoken <\/p>\n<p>  English, Spanish <\/p>\n<p>  Topics of Expertise <\/p>\n<p>  American Politics, World Politics, Culture <\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/section>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In a commentary by C. Douglas Golden on May 22, 2024, at 6:00 am, the impact of Bidenomics is clear as people struggle to afford dining out. This financial strain has hit chains like TGI Friday&#8217;s, highlighting the challenges faced by casual restaurants in the current economic climate<\/p>\n","protected":false},"author":663,"featured_media":2250200,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.westernjournal.com\/wp-content\/uploads\/2024\/05\/TGI-Friday.jpg","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-2250199","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"fifu_image_url":"https:\/\/www.westernjournal.com\/wp-content\/uploads\/2024\/05\/TGI-Friday.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2250199","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/663"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2250199"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2250199\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2250200"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2250199"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2250199"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2250199"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}