TGI Fridays announces initiative to accelerate growth

TGI Fridays intends to sell most of its 247 company-run units to current and new franchisees who agree to renovate the restaurants and construct stores on what the company termed an “accelerated timetable.”

The refranchising should be completed within about 18 months, the chain said. 

The effort to step up expansion is the first major initiative for the chain since it was acquired from the Carlson family by Sentinel Capital and TriArtisan Capital Partners. The chain consists of 900 restaurants in 60 countries.

Fridays describes the new look of its stores as “fresh, modern and engaging.” The facelift has been given to 93 restaurants to date.

“This new structure is a natural step in the evolution of the Fridays brand, and is in full alignment with our broader strategic plan,” said TGI Fridays President and Chief Executive Officer Nick Shepherd

Read the Full Article

Members help make our journalism possible. Become a Restaurant Business member today and unlock exclusive benefits, including unlimited access to all of our content. Sign up here.

Multimedia

Exclusive Content

Food

Restaurants can learn some foodservice tricks from supermarkets

State of the Plate: Nancy Kruse, RB’s menu trends columnist, says grocers are stepping up their game, and restaurants need to keep up.

Financing

So you are opening a restaurant in a Walmart? Good luck with that

The Bottom Line: The retail giant is adding regional restaurant chains to its stores, giving them some key exposure. But there are some real drawbacks to pay attention to.

Financing

The FTC signals a tougher stance on franchising, for now

The Bottom Line: The agency’s comments last week represented some of its toughest regulatory moves on franchising in years. But the election might have a say in it.

Trending

More from our partners