TGI Friday’s Sells Dallas Airport Outlets for $34.5 Million

TGI Friday’s Inc. has struck a deal to sell its outlets in the Dallas Fort Worth International Airport and a handful of other corporate-owned locations in Maryland to restaurant operator Mera Corp. for $34.5 million.

Mera bested an earlier offer by TGI Friday’s former Chief Executive Officer Ray Blanchette, whose business Sugarland Hospitality sought to acquire the same restaurants which were put to auction in Chapter 11. Mera placed a joint offer along with fellow restaurant franchisee, Anil Yadav, according to court documents.

“I’m glad that TGI is going to continue on,” Judge Stacey Jernigan said during a Thursday ...