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The Journal.

The Epic Mess at TGI Fridays

The Journal.

The Wall Street Journal

Daily News, Business News, News

4.2 • 5.3K Ratings

🗓️ 24 January 2025

⏱️ 20 minutes

🧾️ Download transcript

Summary

An iconic chain that became known for its fun cocktails and family dining, TGI Fridays has seen a sharp decline in recent years, leading to a bankruptcy filing in November. WSJ’s Heather Haddon explains the company’s unraveling and a former CEO talks about his plans to keep the chain alive. Further Listening: - Red Lobster's New CEO Plots Its Comeback  - McDonald’s Wants To Offer Quality And Value. Can It Do Both?  Further Reading: - The Epic Mess at TGI Fridays  - TGI Fridays Ex-CEO Blanchette to Take Over Chain’s Management  Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

The story of how the casual restaurant chain TGI Fridays has shifted in American culture

0:10.9

can, in some ways, be told through two movies.

0:15.5

First, the 1988 film Cocktail.

0:21.4

A young Tom Cruise at the height of his cool, starred as a college dropout who becomes a bartender.

0:27.7

You know how to make a red eye, Mr. What's your name?

0:29.9

Brian, Flannigan. No, I'm sorry I haven't had the pleasure as yet.

0:35.0

Tom Cruise's character learns how to mix drinks like a pro, doing flashy tricks as he makes

0:40.1

cocktails.

0:41.3

And some scenes were filmed at a Fridays, which at the time was considered a gold standard of

0:46.4

mixology.

0:47.8

The second film came out over a decade later.

0:50.8

Hey guys.

0:51.6

Office space.

0:52.5

What's up, gee?

0:53.7

Want to go to Chachkes?

0:54.7

Get some coffee?

0:56.1

Part of the movie takes place in a restaurant that's a lot like TGI Fridays, called Chachkes.

1:02.0

It sits in a nondescript strip mall and has a big wooden bar and antique Tiffany lampshades.

1:08.4

But there's never many customers, and the staff is totally annoying.

1:12.4

So can I get you, gentlemen, something more to drink, or maybe something to nibble on, some pizza

1:16.1

shooters, shrimp poppers, or extreme fajitas? Just coffee. Okay. Sounds like a case of the Mondays.

1:22.6

One of the characters, a server played by Jennifer Aniston, hates working there.

...

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