Kurt Sansone
Farsons to close TGI Friday's restaurant
The Fortizza in Sliema will no longer house the TGI Friday's restaurant after the Farsons Group relinquished the international franchise.
The five employees have been absorbed into the other restaurants operated by Farsons' subsidiary Food Chain Ltd, while the part-timers were also offered the opportunity to continue working, a company official told The Times yesterday.
Company secretary Arthur Muscat said TGI Friday's will be closing down "very soon".
He declined to say what will become of the Fortizza, a landmark property which is leased to the Farsons Group by the government.
"Farsons still has a long lease on the place and we will shortly be deciding on how to utilise it," Mr Muscat said.
Food Chain is the holder of the franchise for Burger King, Pizza Hut and KFC and operates a number of restaurants. The most recent addition was the Burger King restaurant at Malta International Airport.
Mr Muscat said the Farsons Group was not declaring any forced redundancies.
He explained that as part of the ongoing restructuring programme the company was offering, on a voluntary basis, early retirement to selected employees who are within two or three years of retirement age.
"The company is constantly restructuring its operation and on a strictly voluntary basis is offering an early retirement scheme to particular people who don't need to be replaced," Mr Muscat said.
The official confirmed that around 25 employees have taken up the scheme over the past 18 months.
Farsons, with a market capitalisation of €48.8 million, is listed on the Malta Stock Exchange. No trade in the company's shares took place yesterday and the price closed at €1.90.
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Vanessa Mifsud
Jan 20th 2009, 17:44
I simply LOVED that restaurant! The atmosphere, the food; everything! Its a shame that this is happening.
Steve Rogers
Jan 20th 2009, 14:13
@M Camilleri
Nowhere does it say TGIF has fallen on hard times. The article says that Farsons relinquished the franchise.
We do not know the why and it could be for a variety of reasons. What we do know is anyone can call up TGIF International and buy the franchise and reopen somewhere else in Malta.
M. Camilleri
Jan 20th 2009, 12:24
Pity! I used to frequent the place when it first opened oh-so-many years ago. Their spare ribs were to die for. But at some point things started to slip - sticky floors, greasy cutlery, dirty tables, sluggish service, you get the picture. So if TGIF has lately fallen on hard time, the management should intone a resounding mea culpa rather than blame the times.
Dennis Long
Jan 20th 2009, 11:45
Pity i when in Malta we used to dine there alot, however thats the way the cookie crumble, and this is just the start as malta is starting to feel the notorous pinch and as usual it will get much much worse before it start to get better hopefully, when? God knows hope its sooner then never as people all over are starting to get a big edgy., i also read on the Mail that load of Brits are returning as they find it more comfortable for the sterling now then in Malta and other mediterranean countries, and if Dubai is in recession then god help us. One good thing for the Uk is that we are not short of foreign tourists mainly cause of the very low prices and the Sale of the Century. Dennis Long (UK)
Manuel Borg
Jan 20th 2009, 11:21
Why not giving it to the Sliema Local Council to set it up as their office? It will be a landmark used not for commercial reasons but for the benefit of all the residents of Sliema.
Lawrence Ellul
Jan 20th 2009, 11:12
I take this news with mixed feelings.. from one end it is a pitty as some of the dishes where quite good indeed, however from the other point of view the service being offered was quite slow... sometimes it took us nearly an hour to be served with the food, and the restaurant was not full....
Good to see that no one was fired... let us see what other francise we shall see in this location...