2025 could be a year of celebration for TGI Fridays. While last year was capped off with a bankruptcy and dozens of closures, this year the chain already commemorated its 60th anniversary.
On March 15, locations in different countries celebrated in their respective time zones, resulting in a 24-hour long party across the world. That party was the start of several anniversary menu specials, including a two meals for $19.65 deal and a special Long Island Iced Tea.
As the company begins its next chapter, Ray Blanchette holds the CEO post once again. Blanchette, who was CEO from 2018 to 2023, returned as CEO earlier this year to help ensure the brand’s future. He has long been a Fridays franchisee under his company Sugarloaf Hospitality, and owns a handful of locations.
“Over the past decade, our business, and the category-at-large, has faced challenges,” Blanchette said. “Yet, the essence of Fridays — our culture, values, and people — remains strong.”
Restaurant Dive interviewed Blanchette by email about franchising, menu innovation and growth at the brand, and why he thinks the restructured company is facing a brighter future.
Editor’s note: This interview has been edited for brevity and clarity.
RESTAURANT DIVE: What brought you back to Fridays?
RAY BLANCHETTE: In a sense, I never left. Shortly after leaving the CEO role, I became a Fridays franchisee in New England. From the inside, I attempted to work with management by being supportive when management aligned with my values and asking other franchisees to work collaboratively. When the decision was made to replace management, I offered a more permanent solution to partner with the global franchisees to make this truly a franchisee-led brand.
At our best, we operate as if we’re in a category of one — charting our own course, prioritizing our team members and their needs, and recognizing that they are the true expression of our brand.
The jobs we create, both domestically and abroad, profoundly impact the lives of our team members and guests. With 391 locations across 41 countries, making the right strategic decisions to secure our brand’s future for me is more than a job — it’s a calling.
What growth opportunities does TGI Fridays have post-bankruptcy?
International expansion remains a key growth opportunity, with many of our global franchisees experiencing strong momentum. We’re actively securing new development agreements in Peru and Japan with highly successful existing partners. Additionally, major markets remain untapped — our recent agreements in Thailand, Vietnam, Singapore and India have the potential to add hundreds of new locations, further strengthening our global footprint.
While I can’t share specifics, we are also actively pursuing domestic opportunities. Without the burden of our previous structure, we can double down on what made us great in the first place: innovative food and drinks, and team members who add their flair to make it all come to life. Our focus remains unwavering: delivering the exceptional employee and customer experiences that define us.
How will you support franchisees to ensure they maintain operations and profitability?
With TGI Fridays now operating under a debt-free structure, franchisees fully own and manage their locations, allowing them to focus on what matters most — delivering exceptional guest experiences. Local ownership ensures a deep understanding of their guests' unique preferences, regardless of language, culture or city. This approach empowers franchisees to uphold the brand promise: unforgettable experiences, indulgent food and legendary cocktails. That's something I think will work.
Aligning corporate and franchisee interests creates a powerful operational advantage, and our franchisees are fully committed to our shared vision. Together, we’re moving forward with a unified strategy and collective dedication to success.
This is the right moment for a franchisee — myself — to lead the company, supported by an advisory board of my fellow franchisees in making operational and marketing decisions. We are operators with real skin in the game who know our markets and believe in TGI Fridays reclaiming our rightful place.
What do you anticipate menu innovation will look like in the future?
While we’re not ready to reveal specific menu changes, we are embracing the fun, indulgent spirit that made TGI Fridays a household name. Our signature appetizers continue to bring people together, creating the perfect setting for social gatherings. Our 60th-anniversary promotional menu celebrates this legacy with classics like the Half Rack of Ribs — an original menu staple — along with Cheeseburgers, Chicken Caesar Salad, Boneless Wings & Fries, and Cajun Chicken & Shrimp Pasta. Guests can enjoy any two for just $19.65, a nod to our founding year.
Another fun addition is our “Spring of Nineteen Six-Tea Five” anniversary cocktail, which reinvents the Long Island Iced Tea we made famous in the 1970s, served in a limited-edition collector’s cup.
In the past, TGI Fridays has leaned on technology. What do you anticipate the opportunities for technology are for the brand?
We’re in the process of upgrading our entire tech stack to enhance both team member efficiency and guest experience. The right technology for TGI Fridays is seamless and intuitive — ensuring guests can engage with us in the way that best fits their needs, whether dining in, ordering online or enjoying our offerings on the go.
How will you be refreshing the guest experience?
We’re bringing the fun back to Fridays, giving people more reasons to gather and celebrate. Our guests come to us for an experience they can’t get anywhere else, and it’s time to reclaim what makes us stand out — being bold, different, and unapologetically TGI Fridays. We welcome everyone, create a vibrant atmosphere and deliver the energy, fun and connection that make every day feel like a Friday. Across our global locations, we’re reigniting the playful spirit that made us a cultural phenomenon, doubling down on what set us apart in the first place: a sense of belonging and fun.
We’re also rethinking where and how we serve guests. Our airport locations consistently overperform, and we’re seeing success with hospitality partnerships, like our TGI Fridays location in the Hilton Garden Inn in Hollywood, California. These partnerships allow us to leverage familiarity of our brand in new settings. When guests check into a hotel late at night and see a TGI Fridays in the lobby, it’s an instant relief. They know they can enjoy a great meal, a handcrafted cocktail, or an ice-cold beer without leaving the comfort of their hotel or even their room
What do you think the future holds for TGI Fridays?
I care deeply about this brand and have assembled an advisory board of passionate franchise owners who share my commitment. We believe in TGI Fridays’ potential, and that starts with our people. Our success begins and ends with the Friday family. Having spent most of my career here, I know well-trained, supported, and happy team members set us apart.
We are pioneers. We opened the first singles bar concept and inspired casual dining as we know it today. We were a category of one and will hold on to the spirit that has always defined our culture, values and people. We are setting a bold course forward, and I look forward to more announcements in the coming months.
