Two years after stepping down as CEO, Ray Blanchette has returned to the top job at TGI Fridays, focused on revitalizing the brand and driving its growth.
Blanchette spoke to Business Insider about how he hopes to get TGI Fridays back on track following its recent bankruptcy filing.
The casual dining chain has faced major challenges in the last few years.
Originally opened in the 1960s as a singles bar in New York City, TGI Fridays grew to become an international chain famous for its burgers and pub-grub appetizers.
However, throughout the 2010s, TGI Fridays closed more than 200 restaurants in the US. Its plans to take the company public in 2020 also coincided with the start of the COVID-19 pandemic, halting those plans indefinitely.
Ultimately, last November, the chain filed for Chapter 11 bankruptcy protections, citing the impact of the COVID-19 pandemic and its capital structure as key factors in the filing.
Read about the four ways Blanchette hopes to lead the chain's comebac...
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