What To Do With TGI Fridays Gift Cards Now?

It has been another year of too many Businesses, both locally owned, and chains alike, closing their doors.

Coming as a surprise to many in the area, even though the company shared in January that they would be shutting a number of locations to 'streamline operations,' the Hudson Valley TGI Fridays locations have shuttered.

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TGI Friday's Hudson Valley Locations Now Closed

In early October, customer's looking to visit the local 'Fridays' in Poughkeepsie and Middletown found signs taped to the door indicating that the locations were closed, and no longer in Business.

The Woodbury location closed in early 2024, followed by the Poughkeepsie and Middletown locations of the chain restaurant closures in early October. At the time of the Poughkeepsie and Middletown TGI Fridays closures, customers were told to visit to the Newburgh location, as it was slated to stay open.

By the end of October, though, the Newburgh location also closed, seemingly without notice, and now, all of the Hudson Valley locations of this long standing fan-favorite spot to grab dinner, or especially drinks and apps with friends, are permanently closed.

SEE ALSO: This Route 9 Wappingers Diner Has Closed

What Happens To All The Unused TGI Fridays Gift Cards?

Now that there's no longer any Hudson Valley locations, what happens to all of those unused TGI Fridays Gift Cards? The company officially filed for Chapter 11 last week, and according to press releases, there's 'the expensive possibility of customers trying to redeem $49.7 million of gift cards that never expire.'

Fortune calls the gift cards a liability, and the individual franchises are obviously going to be relying on the corporation to provide reimbursement for gift-card associated expenses. During bankruptcy hearings, it was reported that 'Fridays' will continue the gift card program:

TGI Fridays will be allowed to continue its gift-card program, which would give franchisees more time to review finances with the central corporation. TGI Fridays plans to continue to honor gift cards.

As it currently stands, TGI Fridays is going through a 'restructuring,' which will allow their 'go forward restaurants to proceed with an optimized corporate infrastructure that enables them to reach their full potential.'