TGI Friday's, Inc.

Is TGI Friday's publicly traded?
No, TGI Friday's, Inc. is not publicly traded. The company is privately held by Tilman Fertitta, who acquired it in 2018 for approximately $250 million. Fertitta owns the company through his holding company, Fertitta Entertainment, Inc. The company previously traded on the New York Stock Exchange from 1983 until it was taken private in 1989.

Who owns TGI Friday's?
TGI Friday's, Inc. is owned by Tilman Fertitta, a billionaire entrepreneur who also owns Landry's restaurant group, the Houston Rockets NBA team, and the Golden Nugget casinos. Fertitta acquired TGI Friday's in 2018 from Sentinel Capital Partners for approximately $250 million. The company operates as a subsidiary of Fertitta Entertainment, Inc.

When was TGI Friday's founded?
TGI Friday's was founded in 1965 by Alan Stillman on First Avenue and 63rd Street in New York City. Stillman was a perfume salesman who borrowed $5,000 to open a bar and restaurant. The name came from the phrase "Thank God It's Friday." The original concept was a place where young single professionals could meet and socialize.

How many TGI Friday's locations are there?
TGI Friday's operates approximately 400 restaurants across 40 countries as of 2025. Approximately 164 locations are in the United States, with the remainder in international markets including the United Kingdom, Southeast Asia, the Middle East, and Latin America. The US store count declined from approximately 300 before the 2024 bankruptcy to approximately 164 after the bankruptcy process.

Did TGI Friday's file for bankruptcy?
Yes, TGI Friday's filed for Chapter 11 bankruptcy in November 2024. The filing affected only the US company-owned restaurants, not the international franchisees. During the bankruptcy process, approximately half of the domestic restaurants closed. The company emerged from bankruptcy in early 2025 with a restructured debt load and a new CEO, Ray Blanchette.

What is TGI Friday's annual revenue?
TGI Friday's reported approximately $1 billion in total revenue in 2024, with about 60% coming from international operations. The company does not file public financial statements as it is privately held. Financial information is based on bankruptcy court filings and industry estimates. The company's goal is to reach $2 billion in revenue by 2030.

Who is the CEO of TGI Friday's?
Ray Blanchette is the CEO of TGI Friday's, Inc. Blanchette was reappointed in 2025 to lead the company's post-bankruptcy revival. He previously served as CEO from 2018 to 2023 and worked at the company from 1989 to 2007. Blanchette has extensive experience in the restaurant industry and has been tasked with doubling the company's global footprint to more than 1,000 restaurants by 2030.

Alan Stillman founded TGI Friday's in 1965 on First Avenue and 63rd Street in New York City. Stillman was a perfume salesman who borrowed $5,000 to open a bar and restaurant. The name "Friday's" came from the phrase "Thank God It's Friday," and the restaurant was designed to be a place where young single professionals could meet and socialize.

The original TGI Friday's was an immediate success. The restaurant's concept of a casual dining bar with a lively atmosphere was novel at the time, and it quickly became a popular destination on the Upper East Side. Stillman expanded to a second location in 1966 and began franchising in 1971.

In 1975, Stillman sold the company to Daniel R. Scoggin and a group of investors who took the company public. TGI Friday's went public in 1983, trading on the New York Stock Exchange. The company expanded rapidly through the 1980s and 1990s, opening locations across the United States and internationally.

In 1989, TGI Friday's was acquired by Carlson Companies, a privately held hospitality and travel company based in Minneapolis. Carlson invested in expanding the international footprint of the brand, opening locations in Europe, Asia, and the Middle East. Under Carlson's ownership, TGI Friday's grew to more than 900 locations worldwide at its peak in the early 2000s.

The 2000s and 2010s were challenging for TGI Friday's. The casual dining segment became increasingly competitive, with new entrants like Cheesecake Factory, Texas Roadhouse, and Chipotle drawing customers away from traditional bar-and-grill concepts. TGI Friday's US store count declined from approximately 600 in the early 2000s to approximately 300 by 2020. Same-store sales declined for several consecutive years.

In 2014, Carlson sold TGI Friday's to Sentinel Capital Partners, a private equity firm, for an undisclosed sum. In 2018, Sentinel sold the company to Tilman Fertitta, the billionaire owner of Landry's restaurant group and the Golden Nugget casinos, for approximately $250 million.

Under Fertitta's ownership, TGI Friday's continued to struggle with declining sales and an aging store base. The COVID-19 pandemic in 2020 forced the closure of dining rooms and accelerated the company's decline. Several TGI Friday's locations closed permanently during and after the pandemic.

In November 2024, TGI Friday's filed for Chapter 11 bankruptcy protection. The filing affected only the company-owned US restaurants, not the international franchised locations. During the bankruptcy process, approximately half of the domestic restaurants closed. US sales fell by 43% compared to pre-pandemic levels.

The company emerged from bankruptcy in early 2025 with a restructured debt load and a plan to revitalize the brand. Ray Blanchette, who had served as CEO from 2018 to 2023, was brought back to lead the revival. Blanchette announced an ambitious plan to reach more than 1,000 restaurants and $2 billion in revenue by 2030.

In 2025 and 2026, TGI Friday's focused on its "holiday takeover" initiative, which created immersive experiences around holidays and sporting events. The initiative resulted in increased traffic, higher check averages, and improved online ratings. The company also expanded its presence in non-traditional locations including hotels, airports, and cruise ships.

TGI Friday's has faced significant challenges and controversies in recent years.

The November 2024 Chapter 11 bankruptcy filing was the most significant event in the company's recent history. The filing affected only the US company-owned restaurants, not the international franchisees. During the bankruptcy process, approximately half of the domestic restaurants closed, resulting in job losses for approximately 3,500 to 4,000 employees. The bankruptcy was attributed to declining sales, increased competition, an aging store base, and an unsustainable debt load.

TGI Friday's has faced lawsuits related to labor and employment. In 2023, the company settled a class-action lawsuit alleging that it violated the Fair Labor Standards Act by failing to pay overtime to certain managers. The settlement was for approximately $5 million. The company did not admit wrongdoing.

The company has faced criticism over its franchise practices. Some franchisees have complained about the high cost of required remodels and menu updates, which they argue have not generated sufficient return on investment. The company has also faced disputes with franchisees over territory rights and royalty fees.

In 2023, TGI Friday's faced a data breach that exposed personal information of approximately 500,000 customers. The breach occurred through a third-party vendor that managed the company's online ordering system. The company notified affected customers and offered free credit monitoring.

TGI Friday's has also faced scrutiny over its nutritional information. The company has been criticized for the high calorie and sodium content of some menu items, particularly its appetizers and desserts. The Center for Science in the Public Interest has listed several TGI Friday's items on its "XTreme Eating" list of unhealthy restaurant foods.