TGI Fridays is forging a path forward after a headline-grabbing bankruptcy raised doubts about its future nearly two years ago, but fans of the casual dining brand in the United States might still have harder time finding one these days.
The restaurant chain has lost almost 200 locations since the beginning of 2024, according to its most recent franchise disclosure document.
Some states, including New York, New Jersey, Florida, and Virginia, have seen net location losses in the double digits over that period.
Reached for comment by Fast Company, a spokesperson confirmed that TGI Fridays currently has 76 U.S. locations. Its disclosure document shows it had 269 U.S. locations at the start of 2024, including both company-owned and franchised locations.
That net loss of 193 stores is not entirely surprising.
The brand’s former owner, TGI Fridays Inc., sought Chapter 11 bankruptcy protection in November of 2024 after announcing earlier that year that it would close dozens of underperforming locations.
However, the beloved Fridays brand has since begun to move forward under new ownership. TGI Fridays is now operated by Sugarloaf Hospitality, and one again led by CEO Ray Blanchette, who had stepped down from the top job in 2023.
In a statement to Fast Company, Blanchette said TGI Fridays has almost 400 locations in 40 countries, and that it’s expected to grow globally in the years to come.
“We are always evaluating our footprint as we work towards our target of more than 1,000 units and $2 billion in global annual revenue by 2030, but cannot get into specifics on plans for individual locations,” Blanchette said.
Which states have lost the most TGI Fridays locations?
According to Fridays franchise disclosure document, the following states lost the most TGI Fridays restaurants between early 2024 (before its bankruptcy petition) and the end of last year. These counts include both franchised and company-owned locations:
- New York: -26 locations
- New Jersey: -17 locations
- Florida: -15 locations
- Virginia: -13 locations
- Illinois: -12 locations
- California: -12 locations
- Ohio: -10 locations
- Texas: -10 locations
- Massachusetts: -8 locations
The document, which was issued in April, further showed that TGI Friday’s did not expect to open any new U.S. restaurants in 2026.
Additionally, there have been some high-profile closures since the disclosure document was produced:
- Indiana: A Fridays location in Evansville, Indiana, was reported closed by local media earlier this month.
- Pennsylvania: A Fridays location in Loyalsock Township was reported closed in May.
- Massachusetts: A Boston location in the city’s Mission Hill section was reported closed in February.
What’s next for Fridays?
In January, TGI Fridays announced its “1-2-3 Strategic Vision” plan, through which it aims to leverage its brand internationally and be a global leader in American-style casual dining—in part by thinking more flexibly about the format of its restaurants across markets.
“The brand’s growth strategy includes a diverse mix of formats, from high-volume airport locations to right-sized hotel concepts and traditional full-service restaurants,” the announcement read, “designed to meet guests where they are and optimize franchise development opportunities in key markets.”
This story is developing and may be updated. . .