TGI Fridays is signaling a potential return to growth in the United States, unveiling its first new domestic development agreement in more than 10 years after a prolonged wave of restaurant closures and a bankruptcy filing.
The casual dining company has partnered with franchise operator Bliss Bites LLC to develop five new TGI Fridays restaurants across New York during the next three years.
Bliss Bites has also purchased the existing TGI Fridays location in Central Islip, taking its total New York presence to six restaurants.
The agreement represents a significant shift for a brand that has spent much of the past several years reducing its US footprint.
TGI Fridays operated 329 restaurants in the US in 2020. By early September 2026, that number had fallen to 71.
In total, the chain has lost more than 75 percent of its American locations over a six-year period.
The company sought Chapter 11 bankruptcy protection in 2024, facing heavy debt and shifting dining habits that put additional pressure on its business.
TGI Fridays is now pursuing an aggressive turnaround strategy, with a goal of surpassing 1,000 restaurants and generating $2 billion in annual revenue by 2030.
TGI Fridays is launching its first new US development agreement in more than a decade following years of closures and bankruptcy protection
The casual dining chain will work with Bliss Bites LLC to open five new restaurants in New York over the next three years
The turnaround is being guided by the company’s ‘1-2-3 Strategic Vision,’ a plan centered on restoring the brand, accelerating franchise growth and improving the performance of individual restaurants.
Ashley Kirkley, TGI Fridays’ chief operating officer, said the New York agreement reflects the kind of franchise partnership the company wants to build as part of its strategy. In a statement, she said the deal demonstrates that growth depends on choosing the right partners.
Kirkley added that the chain sees an opportunity as diners seek reasonably priced sit-down meals while still expecting a memorable restaurant experience.
She said TGI Fridays believes its casual dining format can meet that demand by offering customers value without sacrificing the experience associated with eating out.
New York is an especially meaningful market for the company. TGI Fridays opened its first restaurant on Manhattan’s Upper East Side in 1965 before growing into one of the most recognizable casual dining brands in the country.
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Known for its red-and-white-striped interiors, burgers, ribs and cocktails, the chain became a familiar part of American dining culture.
However, the brand’s contraction has been substantial.
Restaurant Dive reported that TGI Fridays had 161 US restaurants when it filed for bankruptcy in 2024. The chain’s current total means its domestic footprint has since been reduced by more than half in about two years.
New York remains an important part of TGI Fridays’ history, with the brand’s first restaurant opening on Manhattan’s Upper East Side in 1965
TGI Fridays, known for its burgers, cocktails and casual dining atmosphere, has recorded declining sales since 2008
New York itself has lost dozens of Fridays locations during that contraction, making the decision to begin expanding in the state particularly notable.
Bliss Bites owner Vinod Chand said his company believes there is still room for the brand to grow.
‘Between our restaurant in Central Islip and the new locations we’re planning across New York, we’re building on a brand I already believe in, backed by the kind of corporate support that makes long-term growth possible,’ Chand said in a statement.
‘This is just the beginning.’
Fridays has also been pushing value as it tries to convince cost-conscious diners to return.
Its $11.99 ‘3 For All’ deal gives customers an entree, appetizer and beverage for one price, putting the chain into an increasingly aggressive value battle with rivals such as Chili’s and Applebee’s.
Fridays is also looking beyond traditional standalone restaurants as it plots its comeback.
CEO Ray Blanchette told FSR Magazine in January that “nontraditional expansion” would be a major pathway for US growth, including locations in hotels and airports.
Fridays still has a much larger international presence, with hundreds of restaurants outside the US, but restoring its American footprint will be a considerably bigger challenge.
