TGI Fridays has just 85 restaurants left in the US

TGI Fridays, the bankrupt casual dining chain, has only 85 restaurants left in the United States, according to its website.

TGI Fridays, the bankrupt casual dining chain, has only 85 restaurants left in the United States, according to its website. It’s a sharp decline of the once-iconic restaurant, which had about 270 US locations at the beginning of last year and has only seen its store count rapidly decline since. TGI Fridays’ parent company filed for Chapter 11 late last year and had 164 locations open, but it has kept closing locations during the bankruptcy process, with an additional 30 locations shuttering over the past month. TGI Fridays didn’t directly comment to CNN about the closures but said in a statement that the company is “now led by franchisees, with a franchisee advisory board empowering and shaping brand-wide decisions.” When it filed for bankruptcy in November 2024, the company said in a statement that fallout from the pandemic was the “primary driver of our financial challenges” and it will use the Chapter 11 process to “explore strategic alternatives in order to ensure the long-term viability of the brand.” Since then, the company has sold dozens of restaurants to franchisees, including to Ray Blanchette, the former CEO of the chain, who returned to TGI Fridays in January to lead the beleaguered brand. Blanchette is planning to reveal a revamped menu next month, with a focus on items that Gen Z love including “swicy” trends, fusion foods and a bigger emphasis on fresh-grilled steaks. In an interview with Business Insider, he also cited the chain’s strong international presence, which has about 400 locations, as a sign that TGI Fridays can still be relevant.