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TGI Friday planning one big comeback new store openings and a goal of $2 billion in revenue by 2030.
this chain restaurantstarted in 1965 New Yorkannounced the pursuit of a “bold global growth vision” through its upcoming “1-2-3 Strategic Vision” campaign.
The campaign will see the restaurant open more than 1,000 new restaurants and set a profit target of $2 billion in annual revenue by 2030.
TGI Friday After hitting bottom last year, we’re aiming high. The restaurant had to file for Chapter 11 bankruptcy in 2024, blaming rising interest rates, increased competition and holding more than $37 million in debt.
More than half of the chain’s U.S. stores reportedly closed before bankruptcy Nationwide Restaurant News. The brand has struggled during the COVID-19 pandemic, when many restaurants were forced to offer outdoor seating or close operations.
TGI Fridays CEO Ray Blanchette said the restaurant’s new direction is expected to resonate with diners of all ages.
“Our accelerated growth is focused on resonating with the next generation of consumers while preserving the classic American style and iconic experiences that make the brand beloved in more than 40 countries,” he said in a statement. “Through these strategic pillars, we honor the legacy of the Friday brand while engaging today’s guests who crave bold flavors, high-energy experiences and reasons to celebrate every day.”
The brand revitalization plan focuses on four points: opening more stores, providing more support to franchisees to help their stores become profitable, investing in training and incentive programs, and regaining influence among today’s diners.
The company announced the appointment of hospitality industry veteran Phil Broad as its global brand president.
Broad previously worked at TGI Fridays from 1997 to 2001, where he was managing director of the company’s UK operations. In April 2025, he returned to the company as president of international franchises.
The news comes after the company announced its 16 stores closed In the UK, 456 people are unemployed.
Despite its recent troubles, TGI Fridays still operates nearly 400 restaurants in 40 countries.
