TGI Fridays’ CEO gets into the buffet business

The Manchester Golden Corral will be the first of more to come in New England. | Photo courtesy of Golden Corral

Ray Blanchette recently added the role of TGI Fridays’ CEO to his resume, and now he has another new title: Golden Corral franchisee.

Blanchette’s Sugarloaf Corral Management is the newest operator of the 350-unit buffet chain. It plans to expand the brand to New England, starting with a grand reopening in Manchester, New Hampshire, on Thursday.

In an email to Restaurant Business, Blanchette said he and his wife, Robin, are good friends with Golden Corral CEO Lance Trenary and his wife, Paulette. 

“The brand itself is the clear leader in their segment and run with integrity,” Blanchette said. “My family and I are excited to partner with them.”

Blanchette plans to open more Golden Corrals in the region, but they are still under development. “One great restaurant at a time for now,” he said.

The restaurant veteran has spent two different stints with TGI Fridays and last year was tapped to take charge of the chain again as it emerges from bankruptcy. He also operates eight Fridays locations himself through a separate business, Sugarloaf Hospitality. Most of those units are in New England.

Dale Broach, TGI Fridays’ SVP of process improvement, will join Blanchette in the Golden Corral endeavor. 

The Manchester location will actually be a reopening of an existing Golden Corral that closed in September. It had been there since August 2020,  according to local media reports.

It will be the only Golden Corral in the region, with the nearest location about two hours away in Springfield, Massachusetts. The Raleigh, North Carolina-based chain is most heavily concentrated in the South and Southeast.

Golden Corral is the largest buffet chain in the U.S. and is known for its all-you-can-eat menu featuring comfort foods, fried chicken and steak.

Since the pandemic, it has been adapting to consumer demand for more off-premise dining. It recently updated its technology chainwide to help support its to-go business, and last month unveiled a fast-casual spinoff brand, Golden Corral Favorites.

The chain closed six restaurants last year, and sales declined by 0.6%, according to Technomic data. 

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