---
title: "TGI Fridays signs first US franchise in over a decade"
url: https://burnaze.com/article/df01c207-812b-4fe5-ad4b-086004a11168
source: "Restaurant Dive"
original_url: https://www.restaurantdive.com/news/tgi-fridays-new-york-development-franchising-agreement/831745/
category: "Casual dining"
industry: "Restaurants"
segment: "Casual dining"
published: 2026-09-30T00:00:00.000Z
modified: 2026-10-31T13:53:46.819Z
image: https://imgproxy.divecdn.com/YcE-rpQA0hAR0MhDqmtoNIrMFfqnf61xdm8EA9xT2Z0/g:ce/rs:fit:770:435/Z3M6Ly9kaXZlc2l0ZS1zdG9yYWdlL2RpdmVpbWFnZS9HZXR0eUltYWdlcy0xMjIzMjA4NTUyLmpwZw==.webp
---

# TGI Fridays signs first US franchise in over a decade

**TL;DR:** TGI Fridays has signed its first new franchise agreement in the US in over a decade with Bliss Bites LLC, which will acquire a single location and build five new restaurants in New York. The agreement is part of TGI Fridays' plan to return to unit growth in its home market after suffering a significant decline in US locations.

*originally published in Restaurant Dive on 2026-09-30. [Read the original](https://www.restaurantdive.com/news/tgi-fridays-new-york-development-franchising-agreement/831745/).*

## Story

The casual dining chain’s new development agreement could be an early sign of revival for the chain, which fell from 329 U.S. locations in 2020 to 71 this year.

- TGI Fridays has signed its first new franchise agreement in the U.S. in over a decade, according to a Tuesday press release .

- Bliss Bites LLC is acquiring a single TGI Fridays location in central Islip, New York, and will build five new restaurants across the Empire State in the next three years.

- The agreement could help TGI Fridays return to unit growth in its home market, where it suffered a disastrous few years. Since the start of the decade, about 80% of Fridays’ U.S. store system closed — as of early September, it was down to just 71 locations , according to its franchise disclosure document.

Since Ray Blanchette’s Sugarloaf Capital bought the chain out of bankruptcy and Blanchette returned as CEO , Fridays has developed significant and ambitious plans to grow its sales and store base . The chain, which has about 400 units worldwide, is targeting 1,000 locations and $2 billion in revenue by 2030.

Reaching that ambitious target will depend substantially on Fridays’ ability to attract capable franchisees and strengthen its unit economics.

“Growth only matters when it's built with the right partners, and this five-restaurant development agreement is exactly what we envisioned for our ‘1-2-3 Strategic Vision,’” said Ashley Kirkley, the chain’s chief operating officer.

Bliss Bites is owned by Vinod Chand, who has over 35 years of hospitality experience, Fridays said.

Resuming major U.S. growth may take a considerable time, given the expense and difficulty of developing new locations or converting second-generation space to modern casual dining footprints. A few weeks ago, Fridays added a value offer — the $11.99 3 For All — in hopes of capitalizing on consumer shifts into casual dining driven by ongoing fast food price inflation.

## Entities

- unit expansion (topic)
- QSR (sector)
- franchise agreement (topic)
- new york (location)
- restaurant growth (topic)
- Restaurant Dive (publication)
- TGI Fridays (company)
- Ray Blanchette (person)
- Bliss Bites LLC (company)
- Sugarloaf Capital (investor)
- Ashley Kirkley (person)
- Vinod Chand (person)

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Originally reported by Restaurant Dive (https://www.restaurantdive.com/news/tgi-fridays-new-york-development-franchising-agreement/831745/). Summarized by Burnaze (https://burnaze.com/article/df01c207-812b-4fe5-ad4b-086004a11168).