‘Over the top and fun:’ TGI Fridays boss insists time is right for a UK revival
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Ray Blanchette, whose family investment firm Sugarloaf rescued TGI Fridays from administration in 2023, aims to revive the bar-restaurant chain's UK business despite industry challenges. Sugarloaf acquired the UK arm in January after its franchisee faced difficulties, retaining 33 restaurants while closing 16. Blanchette believes TGI Fridays, known for its American cuisine and distinctive decor, can regain popularity in the UK and expand globally to 1,000 outlets. The chain, founded in New York in 1965, has experienced a turbulent history in the UK since the 1990s. Blanchette, a former TGI Fridays kitchen manager and president, emphasizes a long-term, family-business approach, contrasting with previous private equity ownership. He intends to make decisions with a "long-term view" and not just seek short-term profit.
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Key Claims (5)
AI-ExtractedBlanchette's investment firm now controls the global master franchise for TGI.
The closure of 16 restaurants resulted in the loss of 456 jobs.
Blanchette picked up the UK arm in January after the local franchisee got into difficulties, retaining 33 UK restaurants but closing 16.
Ray Blanchette's family investment firm, Sugarloaf, rescued the Dallas-based parent business from administration in 2025.
Blanchette believes TGI can get its mojo back in the UK and head to 1,000 outlets globally.
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