A CELEBRATED family restaurant in Panama City, Florida will experience its last weekend.
TGI Fridays has announced plans to close down after more than two decades in business.
The days are counting down to enjoy a meal at the TGI Friday's at 1022 W. 23rd Street - the only one in Panama City.
The restaurant will permanently shut down on September 26.
The U.S. Sun confirmed staff were told about the closure on September 12.
Royal American Companies (RAC), owners of three TGI Friday's locations, broke the news.
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Since the chain first opened in New York City in 1965, the franchise has reported operating 850 restaurants across 55 countries.
Still, each can feel unique to its local neighborhood, the employees who work there, and the memories patrons make inside, for better or worse.
"This difficult decision was made after a thorough evaluation of our franchise agreement and the overall strength of the TGI Friday's brand," said RAC.
They assured the public impacted team members would be allowed to explore job options within their system of companies.
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The American restaurant chain saw 23 years in Panama City, a fruitful lifetime for any restaurant.
BAD NEWS FOR FRIDAY'S
In 2020, TGI Friday's former CEO Ray Blanchette predicted that 20 percent of its venues would be shut down.
"Some will close forever, without a doubt," Blanchette told Bloomberg.
Unfortunately, being right isn't always a win.
Although RAC insisted the closure didn't reflect the dedication and hard work of restaurant management and staff, it shows a steep decline in sales.
Of course, revenue can vary by location.
RAC did not mention future plans of opening another location in Panama City.
STRING OF CLOSURES
Panama City loses Friday's on the heels of chain closures across the country.
Idaho was left without the fast-casual brand in the state after the closing of its only location in Nampa.
Like Panama City, it shared a history with the community because it was open for 15 years.
The company also exited storefronts in Dothan, Alabama, and Big Flats, New York.
But hospitality will never be slim pickings in the Sunshine State. When one restaurant closes, several more open.
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Twin Peaks added to its tally of 104 restaurants by opening a location in Jacksonville, Florida, rivaling the local Hooters.
And speaking of American classics, Hooters also plans to open three new bars in Central Florida.
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