TGI Fridays to open first new U.S. restaurants in more than a decade — here's where
Nearly two years after filing for Chapter 11 bankruptcy, TGI Fridays is slated to open a handful of new domestic restaurants.
The casual dining chain has signed a development agreement with Bliss Bites LLC to open five new Fridays restaurants across New York. The agreement marks TGI Fridays’ first domestic development agreement in more than a decade.
The deal advances the momentum of the company’s' "1-2-3 Strategic Vision,” its comprehensive growth plan outlining a path to more than 1,000 units and $2 billion in annual revenue by 2030, which was announced at the beginning of this year. TGI Fridays says the plan is anchored by its four strategic pillars: activating the brand, flexible growth across markets, a strengthened franchise system and performance through people.
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"Growth only matters when it's built with the right partners, and this five-restaurant development agreement is exactly what we envisioned for our ‘1-2-3 Strategic Vision,’” said Ashley Kirkley, chief operating officer of TGI Fridays. "We're bringing passionate franchisees into the Fridays family, building in markets where this iconic brand belongs, and creating restaurants that deliver the energy, hospitality, and celebration our guests expect from Fridays.”
Founded in 1965 as the world's first casual bar and grill, TGI Fridays operates nearly 400 restaurants in almost 40 countries. In November of 2024, the company declared bankruptcy, citing its capital structure and fallout from the COVID-19 pandemic as the “primary driver” of its financial challenges. At the time of the filing, TGI Fridays operated 39 domestic company-owned restaurants.
Over the summer, TGI Fridays won approval of a bankruptcy wind-down plan, following sales of its corporate-owned restaurant locations, according to Bloomberg Law. Its franchisee-run locations at home and abroad were unaffected by the approval.
“Guests are increasingly looking for casual dining that delivers real value without sacrificing experience, and Fridays is well positioned to meet that demand as we grow,” added Kirkley. “New York is an important part of our domestic growth story, and we're excited to welcome our newest franchisee."
In addition to the development of five new restaurants over three years, Bliss Bites LLC has also acquired Fridays' existing location in Central Islip, N.Y., bringing the franchisee's total New York portfolio to six restaurants.
"TGI Fridays is an iconic, one-of-a-kind brand backed by an incredible team that celebrates its guests and takes real pride in Americana hospitality," said Vinod Chand, owner and managing director of Bliss Bites LLC. "Between our restaurant in Central Islip and the new locations we're planning across New York, we're building on a brand I already believe in, backed by the kind of corporate support that makes long-term growth possible. This is just the beginning."
