Beloved restaurant chain shrinks from 300 locations to 85: What happened?
TGI Fridays, once a staple of American casual dining and a pioneer of happy-hour culture, has seen its U.S. footprint shrink dramatically in recent years.
The chain that once boasted hundreds of restaurants nationwide now operates fewer than 85 locations in the U.S after navigating a 2024 bankruptcy filing and closing hundreds of locations over the last few years .
Founded in 1965, TGI Fridays soared in popularity through the 1980s and 1990s as a go-to spot for casual meals, appetizers, and signature cocktails.
At its peak in 2008, TGI Fridays operated more than 600 U.S. restaurants. Now, after several rounds of store closures, that number has plummeted to about 85 locations, CNN reported .
Bankruptcy and store closures
In November 2024, TGI Fridays filed for Chapter 11 bankruptcy , citing legacy liabilities, mounting debt and financial challenges rooted in the COVID-19 pandemic as contributing factors.
The move was intended to "address legacy liabilities and position restaurants for long-term success," according to the company's official filing .
At the time of the filing, TGI Fridays operated 39 corporate-owned restaurants in the U.S., a fraction of its former footprint.
The closures began months earlier, when, in January 2024, the company announced it would shutter 36 locations and sell eight corporately owned restaurants to former CEO Ray Blanchette, MassLive previously reported.
But by mid-2024, the chain closed 50 more stores — reducing the chain's U.S. locations to 163.
By February 2025, further closures dropped the number to 124 locations and by April 2025, the chain's U.S. footprint had shrunk to just 85 remaining restaurants.
Current U.S. footprint
The remaining locations are spread across several states, with some markets, including Massachusetts, retaining only a handful of restaurants.
Massachusetts is home to five TGI Fridays , with locations in Boston, Everett, Stoughton, Methuen and Millbury.
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