Goodbye TGI Fridays? Nearly 30 locations closed since restaurant chain filed for bankruptcy

If you’ve been craving TGI Fridays’ iconic loaded potato skins or their signature Jack Daniel’s-glazed ribs lately, you might have noticed something unsettling: your local Fridays is gone. The once-thriving chain, known for its festive atmosphere, flair-adorned servers, and endless appetizers, is now a shadow of its former self. After filing for Chapter 11 bankruptcy in November 2024, TGI Fridays has shuttered nearly 30 more locations across the U.S., adding to the roughly 100 closures earlier in the year. Today, the chain operates just 133 U.S. restaurants – half the number it had at the end of 2023.

The closures span states like New York, New Hampshire, Maryland, Massachusetts, and Ohio, with signs on locked doors citing the “difficult decision” to close. For many, these signs are more than just a corporate formality – they’re a stark reminder of the challenges facing a brand that once defined casual dining.

TGIFs: a downward spiral years in the making

TGI Fridays’ struggles aren’t new. Between 2008 and 2023, the chain lost a staggering 55% of its U.S. locations, with sales plummeting by 63%. The brand, which once boasted over 1,000 restaurants worldwide, has been grappling with declining foot traffic, changing consumer tastes, and fierce competition from fast-casual chains and delivery-focused eateries.

The final blow came in 2024, when the company lost control of many of its assets due to issues with its whole business securitization. A planned merger with U.K. franchisee Hostmore fell through, leaving the chain in a precarious financial position. The bankruptcy filing, however, only applies to the 39 company-owned locations in the U.S., with plans to sell nine of these to restaurant operator Mera Corp. for $34.5 million.

While the U.S. operations are in turmoil, nearly 400 TGI Fridays locations worldwide continue to operate under franchise agreements. Former CEO Ray Blanchette, now a franchisee, has been brought back to manage the global franchise business, tasked with steering the brand through these turbulent times.

What’s next for TGI Fridays?

For now, the future of TGI Fridays’ remaining U.S. locations is uncertain. The brand’s signature red-and-white stripes, once a ubiquitous sight in suburban strip malls, are becoming increasingly rare. The decline is more than just the story of a struggling restaurant chain – it’s a reflection of how quickly the dining world is changing. Casual dining, once a cornerstone of American culture, is being squeezed by fast-casual competitors, delivery apps, and a generation of diners who value convenience and authenticity over nostalgia.

So, if you’re lucky enough to still have a TGI Fridays nearby, maybe it’s time to grab a seat and raise a glass to a brand that once defined nights out for so many. That would certainly help its future prospects...

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