TGI Fridays has just 85 restaurants left in the US

CNN - Apr 22nd, 2025

TGI Fridays, once a prominent casual dining chain, now has only 85 restaurants left in the United States, a significant drop from 270 at the start of last year. The decline follows its parent company's bankruptcy filing in late 2024, citing the pandemic's impact as a major factor in its financial struggles. The company has been closing locations throughout the bankruptcy process, with 30 more shutting down last month. Ray Blanchette, the former CEO, has returned to lead the brand and plans to introduce a revamped menu next month focusing on Gen Z preferences, such as 'swicy' trends and fusion foods, alongside a stronger emphasis on fresh-grilled steaks.

The challenges faced by TGI Fridays are indicative of broader struggles within the casual dining industry, which has seen a downturn as consumers' disposable incomes shrink. Many similar chains, including Hooters and Buca di Beppo, have also filed for bankruptcy, while others like Applebee's and Cracker Barrel are closing hundreds of locations. Despite the difficulties in the US market, TGI Fridays maintains a strong international presence with around 400 locations. The company's future plans aim to rejuvenate its brand appeal, leveraging its nostalgic elements and exploring strategic alternatives to secure its long-term viability.

Bankruptcy Tgi Fridays Restaurant Industry Pandemic Impact Ray Blanchette Gen Z Menu Casual Dining

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RATING

8.2

Fair Story

Consider it well-founded

The story provides a comprehensive and accurate account of TGI Fridays' current challenges and strategic efforts to revitalize the brand. It effectively balances factual reporting with broader industry context, making it relevant to a wide audience. The article's clarity and timeliness are strong points, though it could benefit from additional perspectives and more diverse sources to enhance its depth. Overall, the story is well-structured and informative, offering valuable insights into the casual dining sector's dynamics.

Accuracy

The story accurately reports the current number of TGI Fridays locations in the United States as 85, which aligns with the company's official website. The report of the parent company's Chapter 11 bankruptcy filing in late 2024 is also correct, supported by multiple sources. However, there is a slight discrepancy in the exact number of locations at the time of filing, with the story claiming 164, while other sources suggest around 133. The claim about the company's historical peak of 600 locations is accurate. Overall, the story's factual accuracy is high, though some numerical details about past location counts could benefit from further verification.

Balance

The story presents a balanced view of TGI Fridays' current challenges and strategic plans. It highlights the decline in U.S. locations and the impact of the pandemic on the chain, while also mentioning efforts by the former CEO to revitalize the brand. The inclusion of industry context, such as the struggles faced by other casual dining chains, provides a broader perspective. However, the story could include more viewpoints, such as comments from industry analysts or franchise owners, to enhance its comprehensiveness.

Clarity

The article is well-written, with clear language and a logical flow of information. It effectively communicates the key points about TGI Fridays' decline and future plans. The use of specific examples, such as the planned menu revamp and the historical context of the brand, enhances understanding. The tone is neutral, making it accessible to a general audience.

Source quality

The story relies on credible sources, such as TGI Fridays' official website and statements from the company. The lack of a response from TGI Fridays to CNN's request for comment is noted, which is a standard journalistic practice. However, the story could improve by referencing additional authoritative sources, such as financial analysts or industry experts, to provide a more robust analysis of the company's situation.

Transparency

The story is transparent in its reporting, clearly stating the basis for claims made, such as the number of locations and the financial challenges stemming from the pandemic. The mention of the lack of response from TGI Fridays to a request for comment adds to its transparency. However, the story could benefit from a clearer explanation of the methodology used to verify the number of locations and the financial details provided.