TGI Fridays Completes Goal to Refranchise Majority of Restaurants Ahead of Schedule, Positions Company for Future Growth

October 29, 2015

Carrollton, TX  (RestaurantNews.comTGI Fridays™ today announced Gold Coast Holdings Restaurants has purchased 49 Fridays restaurants in the Boston, Philadelphia, New Jersey and upstate New York areas. With the completion of the Gold Coast transaction, Fridays will have refranchised almost 175 restaurants nearly six months earlier than originally planned, making 90 percent of its U.S. restaurants now owned and operated by franchisees.

“When we launched our refranchising initiative in September 2014, we expected it to take about 18-months to get to this point in the process,” said Ricky Richardson, president and chief operating officer of TGI Fridays USA. “We…