Latest news with #TGIFridays'
Metro
15-05-2025
- Business
- Metro
TGI Fridays overhauls menu in comeback attempt after closing dozens of locations
The popular American casual dining chain TGI Fridays is giving its menu a makeover in an attempt to bounce back from bankruptcy and restaurant closures. TGI Fridays on Tuesday announced it is revamping 85% of its menu as part of its 'ongoing comeback story' as it pushes to keep the doors of its 89 remaining locations in the US open. The chain filed for bankruptcy in November and has shuttered more than a 100 locations over the past year. A TGI Fridays spokesperson said they 'took a hard look' at their existing menu and upgraded ingredients and cooking techniques to boost consistency and speed. TGI Fridays' CEO since April, Ray Blanchette, said it's 'just the beginning' of the chain's overhaul. 'Fridays has a legacy worth celebrating, and we're leaning into that,' Blanchette told on Tuesday. 'We leveled up the flavor on our Mozzarella Sticks, along with nearly the entire menu. Longtime fans will see familiar favorites made better, and first-time guests will get a fresh take on what makes Fridays special.' Some items will disappear from the menu to make way for the new additions. ' TGI Fridays is reworking its mozzarella sticks, which it helped make popular in the 1980s. They will now come sauced with three flavors: RedHot Buffalo, Garlic Parmesan and the Whiskey Glaze only. More Trending Other new items include the Big Queso Energy Burger, Loaded Tots and the TGI Sauce that is 'creamy and tangy with a sweet-smoky kick'. The chain is also debuting seven drinks including the The eL.I.T.e, Jack's New Fashioned, Fri-Yay Rita, Turbo Toro, Tito's Thunderbolt, The Late Checkout and Strawberry Henny. TGI Fridays had 270 restaurants in America at the start of 2024, and had 164 left when it filed for bankruptcy near the end of the year. In its heyday in 2008, the chain had 600 locations. The remaining locations are run by franchisees with an 'advisory board empowering and shaping brand-wide decisions', TGI Fridays stated in earlier this year. Get in touch with our news team by emailing us at webnews@ For more stories like this, check our news page. MORE: Students busted for bizarre TikTok 'Chromebook Challenge' to insert objects in laptops MORE: Urgent recall of soups, rice and porridge mixes over 'life-threatening' risk in US MORE: History of Air Force One as Trump eyes accepting $400,000,000 Qatari plane
New York Post
14-05-2025
- Business
- New York Post
TGI Fridays plans massive menu changes in hopes of a post-bankruptcy ‘comeback story'
One of America's most nostalgic restaurant chains is getting a facelift. TGI Fridays announced a menu overhaul on Tuesday as part of what they're calling 'TGI Fridays' ongoing comeback story.' The plan for bankruptcy bounce-back involves changes to a whopping 85% of its menu, with multiple new items launching nationwide Wednesday, May 14. Advertisement When making the adjustments, the brand 'took a hard look' at the previous menu to remove some items, upgrade ingredients and make cooking techniques more efficient for faster service and consistency, reported. 5 TGI Fridays announced a substantial menu overhaul on Tuesday. wolterke – The spruced-up menu comes after the fast-casual restaurant filed for bankruptcy in November 2024, which led to a significant decrease in locations across the U.S. Advertisement According to a spokesperson, the chain now has 89 remaining locations — compared to the start of 2024 when there were triple that, around 270. 5 TGI Fridays' new Big Queso Energy Burger. TGI Fridays Ray Blanchette, who took the helm as the company's CEO in April, told that the menu overhaul is 'just the beginning' of changes to come to TGI Fridays. 'Fridays has a legacy worth celebrating, and we're leaning into that,' Blanchette said. Advertisement 'We leveled up the flavor on our Mozzarella Sticks, along with nearly the entire menu. Longtime fans will see familiar favorites made better, and first-time guests will get a fresh take on what makes Fridays special.' TGI Fridays helped popularize mozzarella sticks in the 1980s, and now the chain is modernizing the beloved appetizer with three different sauces — one of which is only available at the restaurant. 5 TGI Fridays updated mozzarella sticks, which they helped popularize in the 1980s. Center Reach Group Account / TGI Fridays 5 TGI Fridays' upgraded Loaded Tots. Center Reach Group Account / TGI Fridays Advertisement Here are the new menu items that patrons will find at TGI Fridays: TGI Sauce: The chain is launching a new all-purpose signature sauce, which they describe as 'creamy & tangy with a sweet-smoky kick.' The chain is launching a new all-purpose signature sauce, which they describe as 'creamy & tangy with a sweet-smoky kick.' Mozzarella Sticks: The beloved item can now come sauced in three different flavors: RedHot Buffalo, Garlic Parmesan and the Fridays-only Whiskey Glaze. Of course, customers can still opt for the original with all three sauces on the side. The beloved item can now come sauced in three different flavors: RedHot Buffalo, Garlic Parmesan and the Fridays-only Whiskey Glaze. Of course, customers can still opt for the original with all three sauces on the side. Big Queso Energy Burger: A messy burger that comes with lettuce, pico de gallo, roasted jalapeños, cheddar cheese, poblano queso and a side of even more queso. A messy burger that comes with lettuce, pico de gallo, roasted jalapeños, cheddar cheese, poblano queso and a side of even more queso. Loaded Tots: The revamped app now comes fully loaded with bacon, cheese, green onions and the new TGI Sauce. TGI Fridays is also introducing 'sips that slap' — or, for those who don't care for slang, seven new signature drinks. 5 The chain has concocted seven new drinks. TGI Fridays The eL.I.T.e: A mega-sized Long Island iced tea and Lemonade hybrid featuring Smirnoff vodka, New Amsterdam gin, Captain Morgan Spiced rum, Grand Marnier, lemonade and a splash of Coca-Cola. A mega-sized Long Island iced tea and Lemonade hybrid featuring Smirnoff vodka, New Amsterdam gin, Captain Morgan Spiced rum, Grand Marnier, lemonade and a splash of Coca-Cola. Jack's New Fashioned: Jack Daniel's whiskey, torched sugar, Angostura bitters and black cherry, topped with a cherry. Jack Daniel's whiskey, torched sugar, Angostura bitters and black cherry, topped with a cherry. Fri-Yay Rita: A 'sweet, sour and a little bit salty' drink with Patrón Silver tequila, Fridays' own agave sour, a splash of Grand Marnier, a half-salt rim and a lime squeeze. A 'sweet, sour and a little bit salty' drink with Patrón Silver tequila, Fridays' own agave sour, a splash of Grand Marnier, a half-salt rim and a lime squeeze. Turbo Toro: Patrón Silver tequila, blue curaçao, lime juice, passion fruit, with a full can of Red Bull Tropical. Patrón Silver tequila, blue curaçao, lime juice, passion fruit, with a full can of Red Bull Tropical. Tito's Thunderbolt: Described as the 'jolt you didn't know you needed,' Tito's Handmade Vodka, lemonade and Owen's Transfusion Mix, over ice and topped with lemon. Described as the 'jolt you didn't know you needed,' Tito's Handmade Vodka, lemonade and Owen's Transfusion Mix, over ice and topped with lemon. The Late Checkout: Bacardi Gold rum, Chambord, passion fruit, lemonade and a splash of grenadine, all over ice. Bacardi Gold rum, Chambord, passion fruit, lemonade and a splash of grenadine, all over ice. Strawberry Henny: Hennessy V.S, Grand Marnier and fresh strawberry purée, topped with a sliced strawberry.
Yahoo
12-05-2025
- Business
- Yahoo
TGI Fridays set for brand relaunch on US Independence Day
TGI Fridays, the American bar and restaurant brand, is gearing up for a significant brand relaunch and repositioning, scheduled to be unveiled on 4 July 2025, coinciding with US Independence Day. The relaunch comes after the UK franchise of TGI Fridays was acquired by Breal Capital and Calveton in 2024, saving 51 locations from closure. The brand's rejuvenation is being led by CEO Julie McEwan, who, according to Simon Wilkinson, board director and operating partner for TGI Fridays and the Evolv Collection, is working with the team to reverse the brand's decline. In a LinkedIn post, Wilkinson described the initiative as "the comeback of all comebacks." He said: 'TGI Fridays has had a tough time over the last few years.' 'We acquired the business back in October and rescued it out of administration. Such processes are tough, when people should be praising the investors for putting their own money into rescuing a much-loved brand the contrary happens, and you get criticised for not saving certain locations and having to make redundancies. The good guys become the bad guys, but that's the reality and having a thick skin helps. The team have had to put up with a lot of flak, negativity and energy sapping noise.' He added: 'Now turning around a brand that has lost it way over circa seven years is a tough ask in any market. In the current market it's a heavy lift and requires a tremendous about of work by everyone connected with the brand. There are no guarantees, and boldness, bravery, hard work and commitment may not be enough.' 'However, we as a collective are going to try our hardest. Under the leadership of Julie Mcewan the team are working their socks off to revert the decline and reposition the brand.' The acquisition by Breal and Calveton in October of the previous year was a critical move that preserved the majority of TGI Fridays' UK sites. However, the transition has not been without its challenges, as a further two locations, including the flagship Leicester Square restaurant, have since closed, leaving the chain with 49 restaurants in the UK. The necessity for a rebrand was underscored by the financial difficulties faced by TGI Fridays' former owner, Hostmore, which entered administration in September 2024, after halting an all-share acquisition of the TGI Fridays' US business. In a recent development, the US-based chain, which had declared bankruptcy, received court approval to sell nine of its corporate-owned restaurants for $34.5m. "TGI Fridays set for brand relaunch on US Independence Day" was originally created and published by Verdict Food Service, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
New York Post
23-04-2025
- Business
- New York Post
Number of TGI Fridays has significantly shrunk across the US as chain battles bankruptcy
TGI Fridays' footprint in the U.S. has been significantly diminished. The chain's website listed 85 restaurants across the country, less than a third of the number that operated in the U.S. at the start of 2024, when there were some 270, CNN reported Tuesday. Advertisement In November, as TGI Fridays Inc. entered Chapter 11 bankruptcy proceedings, over 160 were scattered across America, according to the outlet. There have been closures and sales of TGI Fridays restaurants since then. TGI Fridays Inc. entered bankruptcy 'to allow the Company to explore strategic alternatives in order to ensure the long-term viability of the brand,' it said at the time. Locations franchised to 56 franchisees in 41 countries were not included in the Chapter 11 process, according to its November press release announcing the bankruptcy. 'The story about TGI Fridays – the iconic restaurant-bar chain that invented casual dining, the singles bar concept, and the Long Island Iced Tea – is not the closures but the new structure and new strategy,' a representative for TGI Fridays told FOX Business. Advertisement Franchisee Ray Blanchette was chosen to lead TGI Fridays and created Sugarloaf TGIF Management. He was previously the chain's CEO from 2018 to 2023. 3 TGI Fridays Inc. entered Chapter 11 bankruptcy in November of last year. cineberg – 'The brand, distinct from the entity that filed for bankruptcy, is now led by franchisees, with a franchisee advisory board empowering and shaping brand-wide decisions,' the TGI Fridays representative said. 'The bankruptcy impacted less than 10% of the system.' TGI Fridays' footprint currently includes 391 restaurants across 41 countries, according to the company. Advertisement 3 TGI Fridays CEO Ray Blanchette as he explains how the company is making a comeback after filing for bankruptcy in 2024. foxbusiness 3 TGI Fridays' footprint currently includes 391 restaurants across 41 countries, according to the company. VICTOR ALCORN Blanchette, who is leading TGI Fridays' comeback efforts, recently told FOX Business that within his first 100 days back, the company had already upgraded 80% of its menu, with a new food and cocktail menu launching nationwide on May 13. TGI Fridays is also looking to attract a younger audience and 'changing the brand voice and freshening it up' with more emphasis on social media, he said in the interview.
Daily Mail
23-04-2025
- Business
- Daily Mail
Beloved restaurant chain that brought cocktails to the masses now has just 85 locations left in the US
A happy hour hot spot is hanging by a thread. TGI Fridays, the fast-casual drinks and burger restaurant that helped define suburban mall culture, has shut hundreds of stores since the 2020 pandemic. Founded in 1965 in New York City, the iconic brand grew into a $2 billion business. The restaurant chain used to own and franchise 600 US locations at its peak in 2008. From the 80s through the mid 2010s, middle class shoppers flocked to the mall-adjacent restaurants for burgers, ribs, steaks, and cheap cocktails. The chain is often credited as the Long Island Iced Tea's inventor. But the cocktail-producing icon has faded. In January 2024, the company boasted around 240 restaurants across the US. Now, its website only lists 85 storefronts. The dwindling number of stores isn't a huge surprise: TGI Fridays' parent company filed for Chapter 11 bankruptcy protection in November after a deal to sell with a UK restaurant brand fell through. Since then, closures have accelerated, with roughly 30 restaurants permanently shutting their doors in just the last month. Most of the stores left in the US are run by franchise owners. Business operations at those locations have not been impacted by the parent company's bankruptcy filing. In fact, the brand has spent the last few months selling off locations to its franchisees — including Ray Blanchette, a former CEO who returned to the company in January. Blanchette has remained bullish on the iconic brand's future, claiming that his investments — including an updated menu and restaurant redesigns — will spark new life into the chain. 'We're bringing the fun back to Fridays, giving people more reasons to gather and celebrate,' Blanchette said in an interview with Restaurant Dive. 'Over the past decade, our business, and the category-at-large, has faced challenges.' TGI Fridays' longtime competitors have also filed for bankruptcy as Americans turn away from fast casual brands. For years, low and middle class Americans have tightened their budgets while dealing with higher inflation. TGI Fridays' menus relied on Americana-inspired foods: chicken fingers, Long Island iced teas, and ribs The restaurant has been shuttering stores in droves Shoppers have been avoiding fast casual chains as they look for more food value Cutting back on restaurant visits has become a common way for people to save money, contributing to an economic slowdown for competing restaurants. And, the restaurants have been dealing with inflationary pressures on their offerings. The toxic mix of higher cost and lower traffic has plunged multiple brands: On The Border, Hooters, Buca di Beppo, Red Lobster, and Roti have all filed for bankruptcy. Meanwhile, other restuarant staples, like Denny's, Applebee's, Outback Steakhouse, and Cracker Barrel have all reported shrinking sales estimates. Still, some chains have been able to balance their financial spreadsheets and lure more customers with bargain options. Both Olive Garden and Texas Roadhouse, which both owned by the same parent company, Darden Restaurants, have both reported growing customer interest in their stores. The chains have a huge footprint of locations across the US and feature value-packed menus.
