This Massive Ice Cream Chain Closed Nearly Every Location—Now It’s Making a Big Comeback

TCBY, a nostalgic favorite of frozen yogurt fans, is reopening a new location in Oswego, Illinois on November 22. The store is one of a handful that have opened in the U.S. since 2024. 

TCBY, “The Country’s Best Yogurt,” was founded in 1981. After a quick rise to popularity, it’s fallen behind in the past two decades.

 “We’re excited to bring TCBY back as a healthier dessert option for the community,” Samad Khan, TCBY’s franchise operator, said in a press release. “We want to offer consistent quality, a welcoming environment, and fun experiences for everyone who visits.”

The brand is looking to expand internationally, too. In January TCBY announced a multi-unit franchise development deal with Sterling Restaurants to bring the fro-yo to Qatar malls. The plan is to open over 10 locations in the country across the next five years, with the first coming in 2025. 

“This agreement is a significant milestone in TCBY’s journey of global growth,” said Joe Lewis, CEO of TCBY parent company Famous Brands International. “Domestically, TCBY has achieved consistent, positive same-store sales over the past five years, and this expansion throughout Qatar demonstrates our dedication to revitalizing the brand both at home and abroad.”  

While there have been positive signs in recent years, TCBY has taken a long fall from its peak.

The frozen yogurt brand, founded in Little Rock, Arkansas, skyrocketed to popularity as the first national chain in the U.S. and went public within two years. At its peak, it operated roughly 3,000 locations worldwide. 

But by 2000, its profit was tanking. Capricorn Investors bought TCBY for $140 million, where it joined Mrs. Fields cookies, Great American Cookies, Pretzelmaker, and Pretzel Time. Instead of resulting in boosted growth, the latter three companies were sold to Nexcen Brands and Mrs. Fields Famous Brands filed for bankruptcy. 

And then came a wave of competitors, like Pink Berry, Menchie’s, and Red Mango.

By 2022, the frozen yogurt giant had shrunk to 168 domestic franchised locations, closing 62 stores in 3 years.

The next year, Pearl Street Equity bought TCBY, with more hope of bringing the yogurt back. The store is now up to 350 shops nationwide.

TCBY is offering a buy one get one deal on Saturday at its new Illinois location, according to its website. 

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