After a tough year of closures and bankruptcy, TGI Fridays is trying to reinvent itself. A familiar face is back in charge, but the challenges are steep and the odds uncertain.
Key Facts:
- Former CEO Ray Blanchette returned in January 2025 to lead TGI Fridays again.
- The company filed for bankruptcy in 2024 and closed over two dozen locations.
- Fridays sold 27 of its 39 corporate stores to franchisees, shifting to a fully franchised model.
- Blanchette plans to launch a new menu on May 13, emphasizing scratch-made items and better ingredients.
- The company is revamping its brand voice and focusing on social media over traditional ads.
Rest of the Story: TGI Fridays Comeback Plan Hinges on Franchise Innovation
Ray Blanchette is back in charge of TGI Fridays and moving fast to turn things around.
After the pandemic left the brand saddled with debt, the chain filed for bankruptcy in 2024.
Since then, it has sold nearly all its corporate-owned restaurants to franchisees and embraced a new model.
Blanchette says the brand drifted too far from its roots.
Now he’s focused on quality—bringing back hand-breaded chicken, scratch-made sauces, and hand-cut steaks.
A refreshed menu, which will roll out nationwide on May 13, is part of the plan to win back customers.
Fridays is also targeting younger diners, but without going all-in on health trends.
Instead, the focus is bold flavors and innovative techniques, including experimenting with beef tallow for fries.
The company is retooling its image too, replacing TV ads with a stronger social media push.
Commentary: What TGI Fridays Is Getting Right—and What Might Not Work
TGI Fridays used to be a go-to spot for casual dining and happy hour drinks.
But over time, the chain lost its edge.
The pandemic didn’t just hurt—it exposed years of poor positioning, high debt, and declining relevance in a crowded market.
The shift to a franchise-only model could reduce overhead and speed up decisions.
That’s a smart move for a brand trying to stay agile.
Smaller size means less bureaucracy—and more freedom to take risks.
Blanchette seems to understand this, but execution is key.
Upgrading food quality is long overdue.
Mass-produced sauces and processed ingredients turned off a lot of customers.
By returning to scratch cooking, Fridays may rebuild trust—but consistency across franchises will be a challenge.
One risky bet: resisting the health trend.
Blanchette claims customers say they want healthy food but order differently.
That may hold some truth, but it also risks alienating a growing segment of health-conscious diners.
With the rise of fitness culture, especially among younger Americans, this decision could backfire.
There’s also a cultural factor.
A brand that positions itself as proudly indulgent could play well with the populist crowd, especially in red states.
But staying relevant in major metro areas may prove more difficult if Fridays doesn’t evolve with broader dietary preferences.
TGI Fridays is chasing bold innovation while doubling down on classic Americana.
That’s a high-wire act.
And while nostalgia might draw some back, it’s unclear if that will be enough to compete with more modern, upscale chains.
The Bottom Line: Can TGI Fridays Make a Real Comeback?
TGI Fridays is trying to bounce back with new leadership, better food, and a lighter corporate structure.
The move to franchise ownership gives it flexibility—but also brings risk.
Success will depend on whether its new strategy can attract both loyal former customers and a new generation of diners.
The brand has a long way to go, but it’s making bold moves that just might give it a fighting chance.
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