History of TGI Fridays in Timeline

TGI Fridays is an American casual dining restaurant chain known for American cuisine, with its name an abbreviation of "Thank God It's Friday". It operates over 600 locations in 55 countries, including 124 in the United States. The company filed for bankruptcy in the U.S. on November 2, 2024.

March 15, 1965: TGI Fridays Officially Opens

On March 15, 1965, Alan Stillman opened TGI Fridays at the corner of 63rd Street and First Avenue, serving American cuisine, bar food, and alcoholic beverages with an emphasis on quality.

1965: First TGI Fridays Opens

In 1965, Alan Stillman opened the first TGI Fridays restaurant in Manhattan, aiming to create a comfortable cocktail party atmosphere for young, single people.

1968: TGI Fridays Featured in Film

In 1968, footage of interviews with patrons from the first TGI Fridays was featured in Robert Downey Sr.'s film No More Excuses.

1971: Daniel R. Scoggin Acquires Rights

In 1971, Daniel R. Scoggin acquired the rights to eight major Midwest cities for TGI Fridays franchises.

1972: New Prototype Opens in Dallas

In 1972, Daniel R. Scoggin opened the first of a new prototype TGI Fridays restaurant in Dallas, featuring a raised square bar and multilevel dining.

1975: Company Sold to Carlson Companies

In 1975, TGI Fridays was sold to Carlson Companies, leading to the departure of Alan Stillman and the original investors.

1977: Stillman opens Smith & Wollensky

In 1977, Alan Stillman, now married, founded Smith & Wollensky with Benson after departing from TGI Fridays.

1980: Scoggin Finalizes Sale

In 1980, Daniel Scoggin finalized his sale of TGI Fridays to Carlson Companies but signed a new contract to continue as the company's CEO.

1983: Initial Public Offering

In 1983, TGI Fridays issued an initial public offering with Goldman Sachs as the company was passing the 100-store mark.

1986: Partnership Formed with Whitbread PLC

In 1986, TGI Fridays formed a partnership with Whitbread PLC to open restaurants in the UK.

1986: First International Franchise

In 1986, by the time Scoggin departed TGI Fridays, the first international franchise was opened in the UK with Whitbread PLC, and the company had widened its appeal, de-emphasizing alcohol consumption.

1989: Company Becomes Privately Held Again

In 1989, TGI Fridays became privately held again, shifting its focus from singles to families.

1994: First TGI Fridays Closes

In 1994, the first TGI Fridays location closed and was replaced by a British-style pub called "Baker Street".

2006: Atkins Name Removed from Menu

In 2006, the Atkins name was removed from the TGI Fridays menu when Atkins filed for bankruptcy, but the restaurant continues to offer low-carbohydrate and low-fat menu items.

January 17, 2007: Whitbread Sells Operating Rights

On January 17, 2007, Whitbread PLC sold operating rights of all 45 TGI Fridays restaurants back to TGI Fridays UK Limited.

2008: Peak Revenue in the US

In 2008, TGI Fridays reached its peak in the US, with 601 restaurants generating $2 billion in revenue.

October 2009: Haymarket Breaks Profit Record

In October 2009, Haymarket broke the world record for the biggest profit made in any week throughout TGI Fridays' history.

2011: The Briad Group as Largest Franchisee

In 2011, the largest TGI Fridays franchisee was The Briad Group in New Jersey, running 72 restaurants across six states.

2013: Logo Design Evolution

In 2013, the logo design of TGI Fridays was evolved by Jane MacDowall and her creative team in Scotland.

May 20, 2014: TGI Fridays Sold to Sentinel and TriArtisan

On May 20, 2014, TGI Fridays was sold to Sentinel Capital Partners and TriArtisan Capital Partners.

2014: Electra Private Equity Buys British Subsidiary

In 2014, the investment trust Electra Private Equity bought TGI Fridays' British subsidiary with 66 sites across the UK.

2017: Marketing Agreement with Utz Quality Foods

In 2017, Utz Quality Foods entered a marketing agreement with Inventure Foods to use the "TGI Fridays" name for some of its snacks.

October 2019: TriArtisan Acquires Sentinel's Stake

In October 2019, TriArtisan Capital Partners acquired Sentinel Capital Partners' stake in TGI Fridays.

2019: Allegro Merger Plans to Take Fridays Public

In 2019, Allegro Merger began working towards taking TGI Fridays public, buying it away from MFP Partners and TriArtisan Capital.

April 2020: Allegro Merger Withdraws Public Offering Plans

In April 2020, Allegro Merger withdrew its plans to take TGI Fridays public.

2020: Re-branding to "Fridays" in the UK

During 2020, TGI Fridays in the UK re-branded to "Fridays", dropping the "TGI" prefix.

2020: Briad Sells Franchises

In 2020, The Briad Group sold its TGI Fridays franchises.

2021: Electra Spins off Hospitality Business

In 2021, Electra spun off its hospitality business, including TGI Fridays in the UK, as Hostmore PLC.

March 2022: Launch of "Fridays and Go" in Dundee

In March 2022, the first "Fridays and Go", a takeaway and quick service version of TGI Fridays, launched in Dundee, Scotland.

October 2023: SouthRock Capital Declares Bankruptcy

In October 2023, SouthRock Capital, the operator of all TGI Fridays locations in Brazil, declared bankruptcy.

2023: Sales Fall to $728 Million

By 2023, TGI Fridays' sales had fallen to $728 million.

January 4, 2024: Restaurant Closures and Sales

On January 4, 2024, TGI Fridays abruptly closed 36 underperforming restaurants and sold eight more to former CEO Ray Blanchette.

April 2024: Agreement to be Acquired by Hostmore LLC

In April 2024, TGI Fridays entered an agreement to be acquired by Hostmore LLC, the owner of TGI Friday's restaurants in the UK, and for the combined company to go public on the London Stock Exchange.

May 2024: Licensing Agreement with Kraft Heinz

In May 2024, TGI Fridays entered a licensing agreement with Kraft Heinz to sell Fridays-branded appetizers in supermarkets.

September 2024: Loss of Control of Assets

In September 2024, TGI Fridays lost day-to-day control of its assets after failing to submit documents to bondholders on time, with consulting firm FTI Consulting taking temporary control.

September 2024: Hostmore PLC Enters Administration

On 18 September 2024 Hostmore PLC entered administration; all UK TGI Fridays restaurant locations were offered for sale.

October 2024: "Fridays and Go" Closes

In October 2024, the first "Fridays and Go", a takeaway and quick service version of TGI Fridays, closed in Dundee, Scotland.

October 19, 2024: Seeking Financing, Preparing for Bankruptcy

On October 19, 2024, TGI Fridays announced it was seeking financing as it warned that it was preparing to file for Chapter 11 bankruptcy in the United States within the coming weeks.

November 2, 2024: TGI Fridays Files for Bankruptcy

On November 2, 2024, TGI Fridays filed for Chapter 11 bankruptcy in the United States, citing its capital structure, rising interest rates, increased competition, and heavy debt as primary drivers.

January 2, 2025: New Management and Restaurant Sale

On January 2, 2025, it was announced that former CEO Ray Blanchette and his company Sugarloaf Hospitality would manage all of TGI Friday's franchised restaurants worldwide, and nine corporate-owned restaurants had been sold to MERA Corp.

January 29, 2025: Closure of Leicester Square Restaurant

On January 29, 2025 it was announced TGI Fridays UK's flagship restaurant in Leicester Square, London had closed down.

January 30, 2025: Closure of Additional Locations

On January 30, 2025, it was reported that 30 more TGI Fridays locations had closed, which left the chain with only around 100 locations remaining in the US.

February 3, 2025: Sale of Corporate-Owned Restaurants

On February 3, 2025, it was announced that 19 of TGI Fridays' corporate-owned restaurants had been sold to two separate franchisees: three to Sugarloaf Hospitality and 16 to Yadav Enterprises, and that TGI Fridays had rejected the leases for six more restaurants.