GoKawiil
Tech News
An amended franchise disclosure document shows TGI Fridays has shuttered nine additional restaurants in the United States this year. The closures continue a downsizing trend that began after the casual dining chain filed for Chapter 11 bankruptcy protection in late 2024.
Five Guys' latest franchise disclosure document shows the burger chain shut down 31 restaurants across multiple U.S. states last year, even as it continued adding new locations to its overall footprint. The filing details where these closures occurred as part of the company's routine reporting on its store network.
A franchise consultant who has advised over 1,000 candidates says validation calls with existing franchise owners are a frequently skipped but essential step in the discovery process. These calls happen after reviewing the Franchise Disclosure Document but before Discovery Day or signing, and are meant to confirm claims made by the franchisor directly with people already running the business.