Home / Business and Economy / TGI Fridays Faces Steep Store Decline Post-Bankruptcy
TGI Fridays Faces Steep Store Decline Post-Bankruptcy
24 Sep
Summary
- TGI Fridays reduced its U.S. store count by 39 locations in fiscal year 2025.
- All company-owned TGI Fridays locations closed in 2025, with some sold to franchisees.
- Nine additional franchised TGI Fridays restaurants have closed so far in 2026.
TGI Fridays has continued to close U.S. restaurants following its Chapter 11 bankruptcy protection filing in late 2024. The company operated 80 U.S. locations at the end of fiscal year 2025, marking a net decrease of 39 stores from the beginning of that year.
This past year saw the closure of all company-owned locations. In fiscal year 2025, 11 company-owned stores shut down, with 28 others sold to franchisees across states like Maryland, New York, and Texas.
Furthermore, nine franchised restaurants have been shuttered so far in 2026, located in states including Florida and Massachusetts. As of September 2026, the chain operates 71 U.S. restaurants, all now franchised.
Looking ahead, TGI Fridays has no new franchised or company-owned openings scheduled for 2026. The casual dining chain is now under the ownership of Sugarloaf Hospitality.
