TGI Fridays Bets on US Comeback With First New Development Deal in Over a Decade

TGI Fridays is embarking on a significant expansion in the United States, announcing its first new domestic development agreement in more than 10 years. This move comes after a period of substantial closures and a bankruptcy filing that dramatically reduced the chain's American footprint.

The agreement, signed with franchise group Bliss Bites LLC, will lead to the opening of five new TGI Fridays restaurants across New York within the next three years. Bliss Bites has also acquired an existing location in Central Islip, New York, bringing their total to six restaurants in the state.

This expansion marks a reversal for the brand, which has seen its U.S. presence shrink considerably. In 2020, TGI Fridays operated 329 restaurants in the United States. By early September 2026, that number had fallen to just 71, representing a loss of over 75% of its U.S. locations in six years. The company filed for Chapter 11 bankruptcy protection in 2024 amid struggles with debt and evolving consumer preferences.

The chain's management has outlined a plan to rebuild the brand, aiming to reach over 1,000 restaurants and achieve $2 billion in annual revenue by 2030. This strategy, termed the '1-2-3 Strategic Vision,' focuses on rebuilding the brand, expanding through franchisees, and enhancing restaurant performance.

"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," Ashley Kirkley, chief operating officer of TGI Fridays, stated. Kirkley expressed confidence that the chain is well-positioned to meet consumer demand for affordable, sit-down dining experiences that do not compromise on the overall restaurant experience.

New York holds historical importance for TGI Fridays, as its first restaurant opened on Manhattan's Upper East Side in 1965. The brand became an iconic casual dining chain, known for its distinctive decor, burgers, ribs, and cocktails. However, the company reported sales declines since 2008, contributing to its contraction. TGI Fridays had 161 U.S. locations at the time of its 2024 bankruptcy filing, with the state of New York itself having lost numerous locations during this period.

Vinod Chand, owner of Bliss Bites, expressed optimism about the brand's potential for growth in New York. "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," Chand said. "This is just the beginning."

In an effort to attract cost-conscious diners, TGI Fridays has introduced value-driven promotions, such as the '$11.99 3 For All' deal, which includes an entree, appetizer, and beverage. The chain is also exploring nontraditional expansion avenues, including locations within hotels and airports, as CEO Ray Blanchette indicated in January.

While TGI Fridays maintains a substantial international presence with hundreds of restaurants globally, revitalizing its domestic footprint presents a significant challenge.