Good news for die-hard TGI-Fridays fans.
The beloved restaurant chain has a real chance at a comeback thanks to a new plan.
It’s a bold vision that the team hopes will propel it into becoming a true contender again.
TGI Fridays’ new transformation strategy, dubbed the “1-2-3 Strategic Vision,” focuses on generating $2 billion in revenue and plans to expand the brand to more than 1,000 restaurants worldwide by 2030.
According to the Wall Street Journal, the chain is committed to delivering memorable guest experiences that build emotional connections, generate higher traffic and boost online ratings.
The chain also hopes to achieve flexible growth in multiple markets, including airports and hotels. It also plans to invest in leadership development, training and performance programs to strengthen its employees and franchises.
“Our accelerated growth is focused on resonating with the next generation of consumers while retaining the classic American style and iconic experiences that have made the brand beloved in more than 40 countries,” TGI Fridays CEO Ray Blanchette said in a release.
Things have taken a turn for the popular restaurant chain recently.
As previously reported, the company filed for bankruptcy in 2024 as sales fell due to debt incurred in the wake of the COVID-19 pandemic.
When it filed, it reported $37 million in debt and less than $6 million in available cash.
By early 2024, the chain had dwindled to about 270 stores, with further reductions expected.
In an effort to get back on track, the chain has come up with a new strategy to attract more customers, including homemade sauces and hand-cut steaks.
But this had little impact, and TGIF still closed dozens of stores.
As of 2025, the chain has 79 stores nationwide. In 2008, TGI Fridays was doing better, with about 600 locations nationwide.
Read the original article at pennlive.com.
