TGI Fridays, the once-thriving casual dining chain known for its upbeat atmosphere and bold American food, is entering a major new chapter. After filing for bankruptcy in November 2024 and shrinking its U.S. footprint dramatically, the brand is now fighting back with a refreshed menu, new restaurant strategy, and a confident return by former CEO Ray Blanchette.
From slashing its restaurant count to launching exciting new dishes and cocktails, here’s how TGI Fridays is trying to make a comeback and reconnect with fans both old and new.
TGI Fridays’ Rise and Fall – and Fresh Restart
Founded in 1965, TGI Fridays became a cultural icon, famous for its happy hour, laid-back bar vibe, and appetizers like loaded potato skins and mozzarella sticks. At its peak in 2008, the chain had around 600 restaurants in the U.S.
But changing dining habits, competition from fast-casual spots, and the pandemic took a heavy toll. By early 2024, the number of U.S. restaurants had fallen to 270. When the company filed for Chapter 11 bankruptcy in late 2024, it still had 164 locations. Now, only 85 remain.
However, instead of seeing this as a loss, the company is viewing it as a chance to focus on quality over quantity. With fewer restaurants, they can invest more into each location and improve service, food, and customer experience.
Ray Blanchette Returns as CEO to Lead the Turnaround
Ray Blanchette, who previously served as CEO from 2018 to 2023, returned to lead the brand once again under a new entity called Sugarloaf TGIF Management. Unlike the business that filed for bankruptcy, this new version of TGI Fridays is led by a group of franchisees, with Blanchette now owning several restaurants himself.
Under his leadership, the company is focusing on what works best. Airport restaurants, hotel-based locations, and city-based franchises near urban neighborhoods are showing strong results. For instance, TGI Fridays at Dallas Fort Worth Airport is now ranked as the number one airport bar and grill in the U.S.
Blanchette also highlighted international growth, with over 391 restaurants in 41 countries, including markets like the Philippines, Peru, Taiwan, Greece, and Cyprus.
TGI Fridays’ New Menu: Bolder, Simpler, More Exciting
Earlier this month, TGI Fridays launched one of its biggest menu revamps in years, eliminating 85% of its old offerings. The new menu is designed to reconnect with the chain’s legacy while bringing in fresh, exciting options.
Highlights include:
Revamped Mozzarella Sticks – Now served with bold sauces like RedHot Buffalo, Garlic Parmesan, and their signature Whiskey Glaze. Blanchette says these “stand out” on the new menu.
New Signature Cocktails – Staying true to their roots as the world’s first cocktail bar, TGI Fridays’ drinks now feature fresh fruit and premium liquor with generous pours, delivering a modern twist on the classics.
Blanchette said the updated menu reflects the brand’s mission: bold, exciting food with fresh ingredients and standout presentation – the kind of food people want to gather and celebrate with.
A Leaner, Smarter Strategy
Rather than trying to grow fast, the company is now focused on growing smart. Blanchette’s approach is to keep the business lean and agile, focusing on quality locations and proven success models, such as airport restaurants and urban hubs.
With a Global Advisory Committee made up of both domestic and international franchisees, TGI Fridays is setting itself up for steady growth by listening closely to what works in different markets.
TGI Fridays is embracing change after a tough few years. With a new menu, a fresh leadership team, and a smarter strategy, the chain is aiming for a strong comeback. While the number of locations may be fewer, the focus now is on quality, creativity, and delivering the fun, flavorful experience the brand has always been known for.
If you’re a fan of bold cocktails, comfort food, and a party-like vibe, your local TGI Fridays might just surprise you with its exciting new direction.