KUALA LUMPUR, Malaysia, Nov. 5, 2024 /PRNewswire/ -- TGI Fridays Malaysia assures customers that local franchise restaurants continue operating as usual and remain unaffected by the recent Chapter 11 filing by TGI Fridays Inc. in the United States.
Craveat International Sdn Bhd, a wholly owned subsidiary of Techna-X Berhad, is the Master franchisee and developer for TGI Fridays Malaysia. Craveat International Sdn Bhd operates under the franchise agreement with TGI Fridays Franchisor, LLC, which is separate from TGI Fridays Inc. and is not impacted by this restructuring in the U.S.
TGI Fridays Franchisor, LLC has franchised the brand to 56 franchisees in 41 countries. All of these franchise locations, both domestic and international, are independently owned and therefore not included in TGI Fridays Inc.'s Chapter 11 process. They are open and serving customers as usual.
TGI Fridays Inc., which oversees 39 corporate-owned restaurants in the U.S., filed for Chapter 11 protection on November 2, 2024, in Dallas, Texas. This legal step allows TGI Fridays Inc. to reorganize and restructure its financial operations to ensure long-term stability. The filing impacts only corporate-owned restaurants in the U.S., while franchise locations worldwide remain unaffected. TGI Fridays continues to operate more than 400 restaurants globally, committed to delivering That Fridays Feelingâ„¢ to guests worldwide.
TGI Fridays Malaysia: Business as Usual with New Openings Ahead
TGI Fridays Malaysia remains strong and is excited to announce several new developments:
- New outlet opening at Mid Valley Megamall, Kuala Lumpur, in November 2024
- Reopening of the Sunway Pyramid outlet in December 2024
- New outlet launch in Putrajaya scheduled for the first half of 2025
"We're thrilled to be expanding in Malaysia and bringing more opportunities for our guests to experience That Fridays Feelingâ„¢," said Mr. Lee Yew Jin, CEO of TGI Fridays Malaysia. "Our local restaurants remain committed to delivering the great food, service, and celebration that our guests know and love."
Commitment to Ongoing Franchise Support
To ensure continuity for franchisees worldwide, TGI Fridays Franchisor, LLC has established a Transition Services Agreement to maintain support services during this period. These measures allow franchise operations, including those in Malaysia, to continue business without disruption.
About TGI Fridays Malaysia
As the world's first casual bar and grill, TGI Fridays has long been a place for celebration, serving classic American dishes and signature cocktails with a sense of fun and warmth. TGI Fridays Malaysia invites customers to experience the spirit of "In here, it's always Friday," bringing people together to celebrate life's moments, big and small.
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TGI Fridays Malaysia Remains Unaffected as TGI Fridays Franchisor LLC Is Not Involved in the US Chapter 11 Filing
LOS ANGELES, April 1, 2026 /PRNewswire/ -- Following the release of several authoritative 2025 annual AR market reports, one brand has consistently emerged as the industry leader: RayNeo. Despite varying statistical methodologies across firms, the conclusion remains unanimous—RayNeo has secured the No.1 position in both global and Chinese markets. In just four years since its inception, the AR pioneer has achieved a "no-suspense" lead, dominating key regions with record-breaking growth.
Dominating Global and North American Markets
According to the Counterpoint Research 2025 Global AR Smart Glasses Brand Shipment Report, RayNeo commanded a 27% share of global shipments in 2025, ranking first worldwide. The brand saw explosive growth in Q4 2025 across China, North America, and Europe.
Data from IDC further confirms RayNeo's global leadership in Q4 2025, highlighting a "phenomenal breakthrough" in the North American market, where RayNeo's shipments surged by 456.5% year-over-year. Consequently, IDC noted in its report that the smart glasses sector has officially entered an era led by Chinese brands.
Full-Stack Innovation and Global Ecosystem
RayNeo's ascent is fueled by its deep commitment to R&D in near-eye display, spatial computing, AI large models, and human-computer interaction. By achieving full-link self-research and mass production of core optical solutions, RayNeo has built a formidable technical moat.
- X Series: All-scenario AI+AR glasses.
- Air Series: The "super blockbuster" focused on immersive viewing.
- V Series: Specialized AI filming glasses.
RayNeo's services now span over 30 countries and regions, with a strong retail presence in global mainstream channels such as Amazon and Best Buy. RayNeo's ecosystem has received several praises, signaling the brand's success in moving AR from "tech novelty" to "daily essential."
Strategic Financing and Ecosystem Expansion
RayNeo's market leadership is supported by robust capital backing and a rapidly expanding global partner network. In Q1 2026, the company successfully completed a financing round exceeding $140 million (approx. 1 billion RMB), led by an investment group including CITIC Goldstone and strategic funds from industry giants China Mobile and China Unicom.
Alongside this financial growth, RayNeo is deepening its technical integration with world-class telecommunications partners, including China Mobile, and China Unicom. These collaborations focus on building a 5G+AR+AI ecosystem centered on eSIM technology, advanced AI models, and cloud services. Additionally, RayNeo continues to co-create diverse application scenarios with global tech leaders such as Google, Applied Materials, SeeYA Technology, Alibaba Cloud, Ant Group, and Tencent, further accelerating the maturity of the global AR industry.
About RayNeo
RayNeo is the global leader in consumer Augmented Reality (AR) glasses, dedicated to transforming everyday life for one billion people. As the Official Worldwide Olympic Partner in the AR glasses category, the company represents the forefront of immersive technology. Its product portfolio features the AI-enhanced, full-color display X Series and the portable, large-screen Air Series, designed for versatility and high-quality viewing. According to Counterpoint Research, RayNeo dominated the global AR glasses market in Q3 2025, capturing a 24% market share and securing the top position worldwide.
Contact
PR Manager: Sophie
Email: lixj@rayneo.com
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RayNeo Leads Global AR Market with One-Third Share
