TGI Fridays

Fridays is owned by investment firms TriArtisan Capital and MFP Partners. The chain once operated 396 U.S. locations and 446 international restaurants. In the last three months of 2019, Fridays same-store sales declined 11.3%, while traffic declined 9.1%. Over the previous five years, meanwhile, the chain’s domestic system sales declined 28%. The company has been acquiring franchisees, banking on its ability to improve operations and therefore the chain’s sales. It inked a $19 million deal in early January 2020 to acquire 36-unit Briad Restaurant Group, its second-largest franchisee. In November 2024, TGI Fridays announced it filed for Chapter 11 bankruptcy. At the time, it said its 39 U.S. locations would “continue to serve customers as usual.” In early January, Reuters reported TGI Fridays had $37 million in debt and was in the process of selling off some of its remaining restaurants. The chain is down to four owned restaurants in all of California, although there are additional locations that are run by franchisees.