History of TGI Fridays in Timeline

TGI Fridays is an American casual dining restaurant chain known for its American cuisine and the slogan "Thank God It's Friday." With over 600 locations across 55 countries, including 124 in the United States, it is a globally recognized brand. The company filed for bankruptcy in the United States on November 2, 2024.

March 15, 1965: TGI Fridays Restaurant Opens

On March 15, 1965, Alan Stillman opened the first TGI Fridays restaurant after purchasing a bar he often visited, named The Good Tavern. The restaurant served standard American cuisine, bar food, and alcoholic beverages, emphasizing food quality and preparation.

1965: First TGI Fridays Opens in Manhattan

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

1968: TGI Fridays Featured in Film

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

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1971: Scoggin Acquires Franchise Rights

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

1972: New TGI Fridays Prototype Opens in Dallas

In 1972, Daniel R. Scoggin opened the first of a new prototype TGI Fridays restaurant in Dallas, which featured a raised square bar and multilevel dining layout. This prototype doubled the sales and tripled profits of TGI Fridays' previous best.

1975: TGI Fridays 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 Founds Smith & Wollensky

In 1977, Alan Stillman, now married, founded Smith & Wollensky with Benson.

1980: Scoggin Finalizes Sale and Signs New CEO Contract

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

1983: TGI Fridays Issues IPO

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

1986: Scoggin Departs from TGI Fridays

In 1986, Daniel Scoggin departed from TGI Fridays. By this time, the company had widened its appeal, de-emphasizing alcohol consumption and emphasizing quality over quantity.

1986: Partnership Formed Between Whitbread PLC and TGI Fridays

In 1986, Whitbread PLC and TGI Fridays formed a partnership with 45 locations in the United Kingdom, until Whitbread sold its operating rights in 2007.

1989: TGI Fridays Becomes Privately Held Again

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

1994: First TGI Fridays Location Closes

In 1994, the first TGI Fridays location closed and was replaced with 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 both low-carbohydrate and low-fat menu items.

January 17, 2007: Whitbread Sells Operating Rights Back to TGI Fridays UK

On January 17, 2007, Whitbread PLC sold operating rights of all 45 TGI Fridays restaurants back to TGI Fridays UK Limited, exiting a partnership formed in 1986.

2008: TGI Fridays Peak Revenue

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

October 2009: Haymarket Breaks Profit Record

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

2011: The Briad Group is Largest Franchisee

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

2013: Logo Design Evolved

In 2013, the TGI Fridays logo design 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 Fridays' British Subsidiary

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

2017: Utz Enters Marketing Agreement with Inventure 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, with plans to buy it away from MFP Partners and TriArtisan Capital.

April 2020: Allegro Merger Withdraws Plans

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

2020: TGI Fridays Re-brands in the UK

In 2020, TGI Fridays re-branded to "Fridays" in the UK, dropping the "TGI" prefix. About three years later, the naming reverted to "TGI Fridays".

2020: Briad Group Sells its 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 Fridays in the UK, as Hostmore PLC.

March 2022: First "Fridays and Go" Opens in Scotland

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: TGI Fridays Sales Decline

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

January 4, 2024: TGI Fridays Closes Underperforming Restaurants

On January 4, 2024, TGI Fridays abruptly closed 36 underperforming restaurants and sold eight more to former CEO Ray Blanchette. Most employees were offered transfers to other locations.

April 2024: TGI Fridays 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: Fridays Enters Licensing Agreement with Kraft Heinz

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

September 2024: TGI Fridays Loses 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. Hostmore LLC dropped its plans to acquire TGI Fridays and went into administration. 51 sites were sold the following month, while a further 35 closed.

September 2024: Hostmore PLC Enters Administration

On 18 September 2024 Hostmore PLC entered administration; all UK restaurant locations were offered for sale. 51 sites were sold the following month, while a further 35 closed.

October 2024: "Fridays and Go" Closes

In October 2024, the first "Fridays and Go", a takeaway and quick service version of TGI Fridays, closed, following the sale of the bankrupt UK franchise.

October 19, 2024: TGI Fridays Announces Potential Bankruptcy Filing

On October 19, 2024, TGI Fridays announced it was seeking financing and preparing to file for Chapter 11 bankruptcy in the United States within the coming weeks, citing rising interest rates, increased competition, and heavy debt.

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 as a primary driver.

January 2, 2025: New Management and Restaurant Sales Announced

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. Also, nine corporate-owned restaurants were sold to MERA Corp for $34.5 million.

January 29, 2025: TGI Fridays UK Flagship Restaurant Closes

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

January 30, 2025: Additional TGI Fridays Closures Reported

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

February 3, 2025: Sale of Restaurants to Franchisees

On February 3, 2025, 19 of TGI Fridays' corporate-owned restaurants were sold to two separate franchisees, with three going to Sugarloaf Hospitality and 16 to Yadav Enterprises. Additionally, TGI Fridays rejected the leases for six more restaurants.