Former TGI Fridays chief in move to snap up UK chain

Sugarloaf TGIF Management, led by former TGI Fridays CEO Ray Blanchette, has acquired the chain’s UK operations just a year after they were sold to Calveton UK and Breal Capital, preserving nearly 2,000 jobs and bringing the 50-restaurant portfolio back under the brand’s global management amid a difficult period for the hospitality sector.

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