ST. LOUIS COUNTY, Mo. — After 40 years, TGI Fridays officially closed the doors at a St. Louis County location on Monday. The restaurant located in Ronnie’s Plaza at 5262 S. Lindbergh Blvd. announced on Facebook last week about the closure. The restaurant encourages customers to visit its St. Charles location off S. 1st Capitol Drive.
Joann is closing all stores nationwide, including the Great Falls location, as part of its bankruptcy proceedings. The company announced on February 23, 2023, at which time it was revealed GA Group was selected as the winning bidder to acquire substantially all of Joann’s assets during the sale process and auction. This agreement is pending court approval, with hearings scheduled for February 26.
GA Group intends to begin winding down Joann’s operations and will hold going-out-of-business sales across all store locations nationwide. Earlier this month, Joann leadership announced plans to close about 500 stores; these were revised as GA Group secured more assets. "JOANN leadership, our board, advisors and legal partners made every possible effort to pursue a more favorable outcome... We deeply appreciate our dedicated team members, our customers and communities across the nation for their unwavering support for more than 80 years," Joann stated on February 23.
Operating at the Holiday Village Mall, the Great Falls Joann had only recently relocated from its longtime spot on 10th Avenue South, which is currently being renovated for new businesses like Pizza Ranch expected to open this year. The store is expected to conduct going-out-of-business sales immediately, where customers will be able to use gift cards until February 28.
The closure of TGI Fridays and Joann adds to the growing list of high-profile business closures affecting communities across the country. These closures highlight broader economic issues impacting retail and dining sectors, where shifting consumer habits and inflationary pressures are forcing many established businesses to rethink their future.
With the latest report indicating the rise of bankruptcy filings and consumer spending changes, business owners and local stakeholders are feeling the dual impact of decreased revenue and increased operational costs. For customers, the effect can be disheartening, especially when favorite local restaurants or crafting destinations are lost. It’s not just about losing services; each closure signifies potential job losses and diminished community interactions.
While TGI Fridays encourages its loyal patrons to visit their nearby branch for dining options, Joann’s winding-down process paints the picture of struggle within the crafting retail industry—even as it tries to fulfill promises to customers and employees. The impending adjustments are indicative of larger trends, showing how businesses need to adapt or risk closure.
Such figures also reflect endemic issues within the brick-and-mortar industry as consumers increasingly turn to online alternatives amid changing shopping behaviors. Companies like Joann need not only to close stores but must also rethink their strategies to deliver value to their customers and remain solvent.
Overall, these closures serve as cautionary tales of unpredictability within economic realms; both for consumers whose habits are shifting and for business strategic planners delving deep to avoid the same fate as TGI Fridays and Joann.