TGI Fridays: Full list of UK restaurants staying open after rescue deal agreed

More than 2,000 jobs have been saved after a deal to acquire the UK operation of American cocktail bar and restaurant chain TGI Fridays out of administration was agreed. Breal Capital and Calveton, who own restaurant group D&D London, have snapped up a majority stake for an undisclosed sum through their acquisition vehicle Liberty Bar and Restaurant [...]

Oct 7, 2024 - 21:00

TGI Fridays: Full list of UK restaurants staying open after rescue deal agreed

The company behind TGI Fridays in the UK has been acquired out of administration.

More than 2,000 jobs have been saved after a deal to acquire the UK operation of American cocktail bar and restaurant chain TGI Fridays out of administration was agreed.

Breal Capital and Calveton, who own restaurant group D&D London, have snapped up a majority stake for an undisclosed sum through their acquisition vehicle Liberty Bar and Restaurant Group Limited.

The sale includes 51 TGI Fridays restaurants which will see more than 2,000 jobs saved.

As a result, 36 locations are set to close with around 1,000 jobs lost.

‘The start of a positive future’ – TGI Fridays UK boss

Julie McEwan, chief executive of TGI Fridays UK, said: “TGI Fridays is a much-loved brand with a rich heritage.

“The news today marks the start of a positive future for our business following a very challenging period for the casual dining sector as a whole.

“We look to the future with confidence that the TGI Fridays brand will continue to attract loyal and new guests.

“We are devastated for our colleagues who will be leaving TGIs and thank them for their loyalty and contribution during their time with us.

“We are doing everything possible to retain our team and support those impacted.

“We would like to thank our team and our loyal guests for supporting us during this transition. We are proud to serve millions of customers across the UK and are committed to continuing to evolve our proposition and to give our guests a great value for money experience that keeps them coming back to enjoy TGI Fridays time and again.”

A spokesperson for the new owners added: “We are delighted to be working with such an enthusiastic and committed management team to both modernise the business and capitalise on the heritage of this iconic brand.”