TGI Fridays Comeback Isn’t What You Think

Few American restaurant chains have imploded as dramatically as TGI Fridays.

Once a dominant force in casual dining, the brand spiraled into bankruptcy, shuttered hundreds of locations, and watched domestic sales plunge by more than 40%. For many observers, it looked like another once-iconic name headed for the corporate graveyard.

But the man now leading TGI Fridays back from the brink says this recovery is fundamentally different.

And his reasoning has nothing to do with spreadsheets, consultants, or marketing buzzwords.

A CEO Who Walked Back Into the Fire

Ray Blanchette did not need to return to TGI Fridays.

After serving as CEO for five years, he stepped away in 2023 as the company fell apart under new ownership. Most executives would have moved on without looking back.