>> Continued From the Previous Page <<
Blanchette did the opposite.
“I’ve been affiliated with this brand for decades,” Blanchette said. “I grew up in the brand. John Metz was one of my mentors. I’ve known some of these families for literal decades. This is about more than the business, it’s about the people.”
That admission alone separates Blanchette from the typical turnaround executive parachuted in to extract value and exit.
His connection to TGI Fridays runs deep. He joined the company in 1989 as a kitchen manager in Philadelphia when the chain was thriving. Over nearly two decades, he rose through the ranks to become president before leaving to lead other restaurant brands.
Still, the pull of Fridays never faded.
When the company filed Chapter 11 bankruptcy in November 2024 with just 39 corporate-owned locations remaining and roughly $37 million in debt, Blanchette was already back in the picture. Through Sugarloaf Hospitality, he had begun acquiring New England locations as a franchisee.
By January 1, 2025, he was officially back in charge of the entire operation.
No Corporate Spin, Just Brutal Honesty
Unlike many CEOs who rely on vague language during turnarounds, Blanchette opened with a blunt assessment.
“In any turnaround, you’ve gotta confront the brutal facts without placing blame or excuse,” Blanchette said. “We have to fix what’s broken, or else it’s just an endless perpetual downward spiral.”
What he found was a brand that had drifted far from its roots.
The menu had become overloaded and uninspired. Food quality slipped. The high-energy “flair” culture that once defined Fridays all but vanished. Franchisees were left battered by poor decisions made at corporate headquarters.
Between 2023 and late 2024, nearly half the system closed while sales collapsed.
Blanchette moved fast. Within his first 100 days, roughly 80% of the menu was reworked. Ingredients were upgraded. Processes were overhauled.
Chicken tenders were no longer frozen and reheated but hand-breaded. A franchisee proposal led to testing hand-cut steaks. When customers complained burgers were dry, Blanchette personally helped develop TGI Sauce to solve the problem.
He didn’t delegate tastings. He attended them.
“Is it as good as it can be?” Blanchette asked repeatedly. “And if not, then fix it.”
Bringing the Party Back
Food wasn’t the only fix.
The bar program was rebuilt around the signature drinks that once made TGI Fridays a destination. House specialties returned. Cocktails were updated for modern tastes, replacing outdated offerings with crowd favorites like margaritas and strawberry Hennessys.
The menu also leaned into social dining, anchored by shareable Appetizer Towers. Appetizers now account for nearly 30% of total sales, reinforcing Blanchette’s belief that consumers want experiences, not transactions.
Winning Over Franchisees the Hard Way
One of Blanchette’s biggest tests came during the holiday season.
He proposed “TGI Elf Days,” a full-scale holiday activation complete with themed menus, decorations, trivia nights, and family-friendly events. Franchisees were asked to invest thousands per location.
“I’m sure they were thinking I had lost my mind,” Blanchette admitted.
Instead of forcing the cost onto operators, Blanchette found marketing funds and provided materials to reduce the burden. Every franchisee participated.
The results spoke volumes. Traffic increased. Same-store sales turned positive. Customer satisfaction hit record highs without raising prices.
“All you had to do was stand in one of our restaurants and watch a family with kids whose eyes widened when they walked in,” Blanchette said. “When I saw that kind of energy for the first time, I knew we were going to sell family connections.”
From Defense to Expansion
Rather than merely stabilizing, Blanchette went on offense.
In January 2026, TGI Fridays unveiled its “1-2-3 Strategic Vision,” targeting more than $2 billion in revenue and over 1,000 locations worldwide by 2030.
Today, the brand operates around 400 locations globally. New development agreements have been signed across emerging markets including the Philippines, Kenya, Peru, and Uzbekistan.
“We saw tremendous same-store sales growth in every market except the U.K. and the U.S.,” Blanchette said. “We saw meaningful improvement in the U.K. We had bad ownership and that’s one of the reasons we put franchise health as one of our strategic pillars.”
Following bankruptcy, TGI Fridays is now entirely franchised. Blanchette himself became a franchisee, giving him firsthand accountability.
“Development agreements are essentially meaningless if franchisees are not getting the right economic returns,” Blanchette explained.
Before his return, franchisees were fragmented and angry. His priority has been restoring profitability so growth becomes attractive again.
Why This Turnaround May Actually Stick
The casual dining sector is littered with failed revivals. Red Lobster collapsed. Denny’s continues closing stores. Romano’s Macaroni Grill barely exists.
But the brands that succeeded shared key traits: leadership credibility, operational discipline, and respect for what made customers care in the first place.
Blanchette checks all three boxes.
“It’s personal,” he said.
And that may be the one ingredient no consultant can manufacture.
Most corporate comebacks are theater.
This one might be something else entirely.
