2 years ago today, TGI Fridays declared bankruptcy. Now, its CEO says the company never thinks about it.
TGI Fridays' CEO said the company is focusing on its franchisees rather than its bankruptcy filing.
Two years ago today, on November 2, 2024, TGI Fridays filed for Chapter 11 bankruptcy protection. Since then, the company has been making strides under new leadership, with CEO Ray Blanchette focusing on the franchisees and updating the menu. Blanchette, who returned to his role as CEO in January 2025 after working as a franchisee, told Business Insider that TGI Fridays is experiencing a resurgence.
He expressed that the brand's value is now being recognized by consumers, and the company's priority is supporting its franchisees to help them grow their businesses. Blanchette emphasized that the turnaround doesn't involve thinking about the bankruptcy from two years ago, stating that it's never discussed. The company aims to operate 1,000 restaurants globally by 2030, with expansion plans in various regions.
TGI Fridays currently has roughly 400 restaurants worldwide, with the majority of these locations overseen by its network of franchisees.
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