CEO of TGI Fridays: 4 strategies to relaunch the chain after bankruptcy

Blanchette told Business Insider in a video interview that before getting out of bed in the morning, he thinks about sales of the business. The driving of high -level sales is its “priority n ° 1” for the return of the chain.

“We have seen great progress in the restaurants I have, and we are fortunate to have seen a significant turnaround in sales at comparable stores this year,” he said.

“We think that when we learn, we can get rid of this and continue to increase sales in a powerful way,” he continued.

Sales growth is not an easy task, but Blanchette said that it was encouraged by the growth of the relaxed catering industry with channels like Chile, which experienced a significant increase of 31.4% of sales at stores comparable to the start of the year.

“I think what happened at Chili is encouraging for everyone in relaxed meals, and what they continue to see inspires us,” said Blanchette.

Blanchette said that the company’s bankruptcy deposit in November 2024 was a “enormous distraction”, aggravated by a simultaneous change in management.

However, he wants customers and franchisees to focus less on the bankruptcy and more on the fun and fun side of the TGI Fridays brand.

“The celebration is in a way at the heart of everything we do. And we are therefore trying to re-engage the members of our team by giving them food that they are proud to serve,” he told Bi. “We stop conversations and distractions around bankruptcy and we focus on the recall that the jobs we create in the world change people’s lives.”

Blanchette cited the growing international affairs of the chain, including 391 restaurants in 41 countries.

“We want to look into this and continue to grow and don’t forget to celebrate along the way,” he said.

When it comes to resonating with the younger generations, Blanchette said that menu innovation – from adding new elements to improving the quality of the items already on the menu – is one of the main priorities of the channel.

He also said that innovation can make a unique challenge because it “increases complexity in many cases”.

“I spent my time trying to join the organization so that it is excited by these new products,” he said, appointing the recent channel steakhouse menu, which has hand-cut steaks and is available in selected franchise locations.

Blanchette said that the idea had really resonated with the franchisees, and that the chain now saw the interest of its franchised international partners.

“Creating a traction rather than a thrust on these new ideas has been a great priority,” he said.

Blanchette said menu innovation is a way he thinks that TGI Fridays could conquer customers in younger generations, like Gen Z.

“It is a generation with a very high IQ, and I think they tend to be more curious,” he said, citing a trend for spicy food and more “fusion” flavors with international influences. “They will try spices from abroad even if they do not know exactly what the flavor is until they try it. And we therefore think that innovation is particularly important for this young generation.”

Blanchette added that the chain also focuses on millennials, especially those with young children, because their tastes in restaurants tend to change once they become parents.

“I think that Fridays, because the environment is a little stronger, can compete much more for these young families because you do not have to abandon all your sense of self,” he said. “You can always have an artisanal cocktail, you can always have interesting food handy when you go out.”