The US themed high street restaurant chain – which has 87 sites across the UK – could be saved with firms Breal Capital and Calveton reportedly set to acquire the UK sites as part of a rescued deal.
TGI Fridays could be saved from administration after a new rescue was reportedly put on the table.
The US themed high street restaurant chain – which has 87 sites across the UK – could be saved with firms Breal Capital and Calveton reportedly set to acquire the UK some branches. The firms, which jointly own the upmarket restaurants business D&D London, could announce the deal today, reports Sky News.
TGI Fridays collapsed into administration last month which put 87 of its sites and up to 3,000 jobs at risk. As part of the rescue deal, up to 55 of the chain’s sites could be saved from closure alongside the majority of the workforce. However, this does mean that at least 1,000 jobs could be lost and around 30 of its restaurant sites could close.
Insiders told Sky News that “final details were still being ironed out” over the weekend. The impending deal is believed to include the chain’s existing leases and the right to use the TGI Fridays brand in the UK.
TGI Fridays parent company Hostmore blamed the collapse on a “very challenging set of circumstances” and appointed administrators from the firm Teneo. The news came after the chain had tried to buy the US outlets for £177million. According to reports, the deal broke down because the overall owner of TGI Fridays took back the royalty rights to the restaurant’s brand. As a result, Hostmore had no access to the TGI Fridays’ brand name. Since the announcement last month, TGI Fridays has continued to trade as normal.
TGI Fridays first opened in the UK in the 1980s and has been a popular destination for birthday parties and cocktail nights for the last 40 years. The first branch of T.G.I. Friday’s was opened in New York in 1965 to celebrate weekend dining – the name means “Thank God It’s Friday”. After first opening in Birmingham, the chain spread rapidly around the country with its popular format of casual American bistro-style dining. Teneo declined to comment when approached by Sky News. Teneo also declined to comment when the Mirror approached this morning.
Full list of 87 TGI Fridays UK restaurants
- Fridays Aberdeen beach
- Fridays and Go Dundee
- Fridays Barnsley
- Fridays Basildon
- Fridays Birmingham
- Fridays Bluewater
- Fridays Bolton
- Fridays Bournemouth
- Fridays Bracknell
- Fridays Braintree
- Fridays Brighton Marina
- Fridays Cardiff St David’s
- Fridays Castleford
- Fridays Cheadle
- Fridays Chelmsford
- Fridays Cheltenham
- Fridays Cheshire Oaks
- Fridays Coventry
- Fridays Crawley
- Fridays Croydon
- Fridays Derby
- Fridays Doncaster
- Fridays Durham
- Fridays Edinburgh
- Fridays Enfield
- Fridays Fareham
- Fridays Glasgow
- Fridays Glasgow Fort
- Fridays Gloucester Quays
- Fridays Halifax
- Fridays High Wycombe
- Fridays Jersey
- Fridays Lakeside quay
- Fridays Leeds
- Fridays Leeds trinity
- Fridays Leicester
- Fridays Lincoln
- Fridays Milton Keynes stadium
- Fridays Newport
- Fridays Northampton
- Fridays Norwich
- Fridays Nottingham
- Fridays Prestwich
- Fridays Reading
- Fridays Reading Oracle
- Fridays Romford
- Fridays Rushden Lakes
- Fridays Sale
- Fridays Sheffield
- Fridays Solihull
- Fridays Staines
- Fridays Stevenage
- Fridays Sutton Coldfield
- Fridays Swansea
- Fridays Telford
- Fridays Walsall
- Fridays Watford Central
- Fridays Cardiff Newport Road
- Fridays Edinburgh Fort Kinnaird
- Fridays Sheffield Meadowhall
- Fridays Speke
- Fridays Teesside
- Fridays Watford North
- Fridays Leeds White Rose
- Fridays Ashton
- Fridays Bristol Cabot Circus
- Fridays Bristol Cribbs Causeway
- Fridays Southampton West Quay south
- Fridays Southampton Harbour Parade
- Fridays Glasgow Braehead
- Fridays Manchester Trafford Centre
- Fridays Newcastle Eldon Square
- Fridays Gateshead Metrocentre
- Fridays London Leicester Square
- Fridays London Stratford
- Fridays Manchester Royal Exchange
- Fridays Birmingham Resort nec
- Fridays Gateshead
- Fridays Lakeside
- Fridays Glasgow Silverburn
- Fridays Hanley/Stoke on trent
- Fridays Leeds Birstall jct27
- Fridays Liverpool One
- Fridays London o2
- Fridays London Wembley
- Fridays Milton Keynes (theatre district)
- Fridays Aberdeen Union Square
