TGI Fridays has had its share of ups and downs — from its heyday as a bustling singles bar to shuttering hundreds of U.S. locations. Now, with CEO Ray Blanchette back at the helm, the chain is determined to leave bankruptcy in the past and focus on a fresh future. His plan blends sales growth, employee engagement, menu innovation, and a sharper focus on younger diners. Here’s how Fridays plans to reclaim its spot in the casual dining scene — and why Blanchette thinks this time will be different..
CEO Returns to Steer the Ship Again
After stepping down in 2023, Ray Blanchette is back as CEO, bringing firsthand franchisee experience with him. His return comes after a turbulent leadership shuffle and a Chapter 11 bankruptcy filing. Blanchette says that running his own TGI Fridays locations kept him connected to the brand’s day-to-day reality. Now, he’s ready to use that insight to drive a full-scale turnaround.
Bankruptcy in the Rearview Mirror
The bankruptcy filing last November was a massive distraction for the company. Blanchette wants to shift focus from financial woes to the fun, social atmosphere that made Fridays famous. He’s working to get employees and franchisees energized about the future. “Celebration” is the theme he’s bringing back to the brand’s identity.
Sales Come First — Every Single Day
Blanchette admits that sales dominate his thoughts before he even gets out of bed. Driving top-line sales is his number one priority, and early results from his own restaurants have been promising. Same-store sales have seen meaningful growth this year. The goal now is to scale that success across the chain.
Industry Momentum Offers Hope
The CEO points to the success of other casual dining chains, like Chili’s, which posted a massive 31.4% same-store sales jump. This proves that the segment still has room to grow. Blanchette sees this as validation that Fridays can compete and win back customers.
Bringing Back the ‘Celebration’ Vibe
Fridays wants to be more than just a place to eat — it wants to be a place to celebrate. Blanchette is encouraging team members to take pride in the food they serve. By removing distractions and focusing on great dining experiences, he hopes to restore the brand’s sense of fun and energy.
Global Footprint Is a Big Advantage
With 391 restaurants in 41 countries, TGI Fridays has a strong international presence. Blanchette wants to lean into this reach, fostering growth beyond the U.S. market. The goal is to create a unified brand identity that resonates worldwide.
Steakhouse Concept Gains Traction
One recent hit has been the chain’s steakhouse menu, featuring hand-cut steaks at select locations. The concept has sparked strong interest among franchisees, especially overseas partners. Blanchette says creating demand for new offerings — rather than pushing them — is a winning strategy.
Younger Diners Are a Key Target
Gen Z and millennials are top priorities for the brand’s future. These groups are adventurous eaters with a “high food IQ,” willing to try new spices and flavors. Fridays plans to meet them with bold, globally inspired menu items.
Spice and Global Flavors on the Rise
Younger generations are open to trying spices and international ingredients, even without knowing exactly what to expect. This willingness to experiment creates opportunities for Fridays to surprise and delight. The menu revamp is designed with this adventurous spirit in mind.
Catering to Millennials With Kids
Millennials with young families have different needs when dining out. Blanchette says Fridays’ lively atmosphere makes it a great choice for parents who still want quality food and cocktails without sacrificing fun. The aim is to make the brand a go-to for family nights out.
Balancing Innovation and Simplicity
While innovation is exciting, it can also add operational complexity. Blanchette is focused on finding the right balance — keeping the menu fresh without overwhelming staff or slowing service. The emphasis is on quality and consistency, not just novelty.
Employee Engagement Fuels the Comeback
Blanchette believes a motivated staff is essential to the chain’s revival. He’s working to rebuild morale by giving employees food they’re proud to serve. The hope is that a happier team will naturally create better guest experiences.
Learning From Franchise Success
As a former full-time franchisee himself, Blanchette has seen what works at the store level. He’s bringing those lessons to corporate strategy, using real-world results to guide broader changes. The focus is on practical improvements that drive measurable growth.
A Comeback Built on Celebration
At the core of Fridays’ revival plan is a return to its roots — a place for good food, good drinks, and good times. Blanchette’s vision is about more than numbers; it’s about making TGI Fridays a destination again. The comeback is just getting started.
