"The brand, distinct from the entity that filed for bankruptcy, is now led by franchisees, with a franchisee advisory board empowering and shaping brand-wide decisions."
"The story about TGI Fridays - the iconic restaurant-bar chain that invented casual dining, the singles bar concept, and the Long Island Iced Tea - is not the closures but the new structure and new strategy."
TGI Fridays has faced substantial challenges, leading to its bankruptcy filing as it sought to ensure its long-term viability. With only 85 restaurants remaining in the U.S. from a peak of 270, the iconic chain is undergoing a restructuring led by franchisee Ray Blanchette. The bankruptcy affected less than 10% of the system, allowing for new strategies including menu upgrades aimed at attracting a younger audience. The brand's future hinges on fresh leadership and innovative changes to revitalize its presence in casual dining.
Read at New York Post
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