Black-Owned Group Seeks TGI Fridays

G5ive Restaurant Group (Baton Rouge, La.) has made public its desire to buy the struggling TGI Fridays casual restaurant chain. The group, led by 30-year-old Black entrepreneur Cory Griffin, said in a news release that the move “represents a significant step toward increasing Black ownership in the national restaurant industry.”

G5ive’s statement included no input or reaction from TGI Fridays officials, and an e-mail from VMSD.com seeking comment from the restaurant chain – which is reorganizing under Chapter 11 bankruptcy regulations – had not been answered as of this posting. The release also provided no specifics on what G5ive is offering for the chain or what financial resources are available to it.

“The creation of G5ive Restaurant Group is more than just a business venture; it’s a statement,” said Griffin. “By pursuing the acquisition of TGI Fridays, we are actively working to increase Black ownership in major restaurant franchises, building upon the success of Nicholas Johnson and demonstrating the immense potential within the African American business community.”

Editor’s note: this item will be updated as events warrant.