I can clearly remember when everybody said TGI Friday’s (TGIF) was on the road to Oblivionsville. A few years back, they were closing locations all over the place. But last year, the tide turned. And this year, TGIF is preparing to open 1,000 new restos!
The chain had been sliding down the razor edge to Casual Eatery Hell since before the CIVID Ctrisis. Then, last year, it hit bottom. By this past December, TGIF had only 215 locations still open in the United States—a staggering 44 percent decline from 2020.
The bare essentials
In fact, the company filed for Chapter 11 bankruptcy protection in 2024. But you can’t keep a chain with such a good name down!
“Rather than closing its doors, though, the chain attempted an ambitious overhaul in 2025, cutting 85 percent of its menu,” Kennedy Dierks writes at AllRecipes.com.
The plan is to replace old fan favourites with a slimmed-down slate of offerings, including a new TGI Sauce and a lineup of new mozzarella stick flav-ors.
But the big news is…
TGIF is prepping an ambitious expansion plan that could see the opening of 600 new restaurants by the end of 2030. That’s a global target, and more than twice as many locations as the 400 they have now, world-wide.
Leading the bold comeback bid is TGIF’s relatively new CEO Ray Blanchette (pictured, left). You rarely see a photo of him without a confident smile on his face…
Blanchette told the ICR Conference 2026, it’s ‘a new era’ for the struggling chain. With price tag is estimated at a whopping $2 billion!
An energized strategy
Blanchette also announced a new marketing strategy and a new, energized TGIF brand identity and atmosphere, focusing on major sporing events and seasonal/holiday-themed offerings. He says he’s out to bring customers back with a rekindling of, “[the] spirit that defined TGI Fridays in its heyday.”
“[W]e honor the heritage of the Fridays brand while appealing to today’s guests who crave bold flav-ors, high-energy experiences, and reasons to celebrate every day,” he proclaimed, in a news release. “Our focus as we accelerate our growth is to resonate with the next generation of consumers while preserving the classic Americana feel and signature experience that has made the brand beloved in more than 40 countries.”
My take
If anybody can revive TGIF’s flagging fortunes, it appears Ray Blanchette can. We’ll have to wait and see.
But I can say, right here and now, the revamp he’s planning is just the dose of corporate castor oil I would have prescribed the company. And I’d have administered it years ago. Bringing TGIF into the 21st century with a focus on younger patrons is just what this doctor ordered!
Maggie J.