TGI Fridays Shrinks U.S. Footprint by 48 Stores in 2025

TGI Fridays has significantly reduced its U.S. store count, closing 48 restaurants in 2025, bringing its total to 80 locations by the end of the fiscal year. This contraction follows the casual dining chain's Chapter 11 bankruptcy filing in late 2024. The company's latest franchise disclosure document (FDD), amended earlier this month, details the extent of these closures. At the start of fiscal year 2025, TGI Fridays operated 119 U.S. restaurants, indicating a net loss of 39 locations throughout that year. Further closures in 2026 have reduced the U.S. store count to 71 as of the document's amendment. Specifically, nine additional restaurants have been shuttered by five franchisees in 2026, located across seven states: Florida (2), Georgia (1), Indiana (1), Massachusetts (2), North Carolina (1), Ohio (1), and Pennsylvania (1).

In 2025, TGI Fridays transitioned to a fully franchise-owned model, closing all 11 of its company-owned locations. These closures occurred in Maryland (3), Nevada (4), New York (3), and Tennessee (1). Concurrently, 28 company-owned locations were sold to existing franchisees as part of the bankruptcy proceedings. These sales were distributed across several states, including California (4), Maryland (6), New Jersey (4), New York (2), Pennsylvania (2), Texas (5), and Virginia (5). The strategic shift to a franchise-only model aims to streamline operations and potentially revitalize the brand under new ownership. Sugarloaf Hospitality now owns TGI Fridays, with Ray Blanchette serving as CEO.

The year 2025 also saw the closure of 28 franchised locations across 15 states. These closures impacted California (1), Delaware (1), Florida (6), Illinois (4), Indiana (1), Massachusetts (1), Michigan (1), Minnesota (1), Missouri (3), New Hampshire (1), New Jersey (1), North Carolina (1), Ohio (2), Tennessee (1), and Virginia (3). The cumulative effect of these closures, both company-owned and franchised, represents a substantial reduction in TGI Fridays' physical presence in the U.S. market. The latest FDD outlines zero projected franchised openings for the upcoming period, suggesting a period of consolidation rather than expansion for the brand. This marks a significant turning point for the long-standing casual dining chain as it navigates its post-bankruptcy future.