The UK operator of TGI collapsed into administration in September last year – but the brand was saved when it was acquired by private equity firms Breal Capital and Calveton UK
TGI Fridays has launched a new UK menu as it revealed plans for the future of its restaurants following a major rescue deal that was made last year.
The UK operator of TGI collapsed into administration in September last year – but the brand was saved when it was acquired by private equity firms Breal Capital and Calveton UK.
However, the deal only saved 51 restaurants – meaning 35 restaurants had to shut down and around 1,000 members of staff were made redundant.
TGI – which is known for its US-themed dishes and cocktails – now has 49 restaurants and around 2,500 members of staff. In an update today, TGI said it has undergone a significant transformation since being bought out of administration in October.
Bosses described it as a “full brand reset” that will involve half of its dishes updated and 70% of the grill items reworked, including new flavours and more customisation.
It also plans to revive the brand’s “Americana” influence and theatre theme – with some locations reintroducing photo booths and candyfloss machines.
Diners who order from the menu across Independence Weekend – the US holiday celebrated between July 4-6 – will receive a voucher for a free return meal, valid on weekdays for the rest of the month.
TGI Fridays first opened in New York in 1965 with a party-led theme and continues to operate a string of restaurants in the US. It then opened its first restaurant in the UK in the 1980s and has been a popular destination for birthday parties and cocktail nights for the last 40 years.
Julie McEwan, chief executive of TGI Fridays UK, said: “This is an exciting moment for TGI Fridays – a full brand reset that reinforces everything people have always loved about us.
“TGI Fridays has a rich heritage of bold flavour, high-energy hospitality and unforgettable celebrations – and we’ve gone back to those roots to bring that magic into a new era.
“Over the past eight months, we’ve restructured the business, invested in our incredible team, and rebuilt our offer around quality, value and experience.”
Hostmore, the former UK operator of TGI Fridays, had abandoned plans to buy all the TGI restaurants in the US – its biggest market where it has 128 restaurants – for £177million, shortly before it fell into administration.
It would have merged with US-based TGI Fridays Inc, to create a larger firm that would remain listed in London. Hostmore blamed the collapse on a “very challenging set of circumstances” and appointed administrators from the firm Teneo.