TGI Fridays continues to shrink its U.S. restaurant footprint nearly two years after filing for bankruptcy protection. New franchise disclosure information shows the longtime casual-dining chain has closed additional restaurants this year, even as it begins laying out plans for a potential comeback.
Nine more restaurants have closed
According to an amended 2026 Franchise Disclosure Document, TGI Fridays had 80 U.S. restaurants at the end of fiscal 2025, down from 119 at the beginning of that year.
The chain has since lost at least nine additional restaurants in 2026, reducing its U.S. footprint to approximately 71 locations. The closures involved five franchisees and occurred across seven states: Florida, Georgia, Indiana, Massachusetts, North Carolina, Ohio, and Pennsylvania.
The latest closures add to a dramatic contraction for the brand. TGI Fridays closed 28 franchised restaurants in 2025, while 11 company-owned restaurants also shut down. The bankruptcy process resulted in 28 company-owned restaurants being sold to franchisees.
Chain is trying to rebuild
Despite the continued closures, TGI Fridays is now pursuing a new growth strategy.
The company recently announced its first new U.S. development agreement in more than a decade. Franchisee Bliss Bites LLC plans to operate six restaurants in New York, including the existing Central Islip location and five new restaurants planned over the next three years.
TGI Fridays emerged from Chapter 11 bankruptcy after its 2024 filing and is now owned by Sugarloaf Hospitality. The company says its long-term strategy calls for expanding to more than 1,000 restaurants worldwide and reaching $2 billion in annual revenue by 2030.
For now, however, the chain’s U.S. footprint remains a fraction of its former size, with the latest closures highlighting the challenges facing the brand as it attempts to rebuild.
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