More than 2,000 jobs have been saved after TGI Fridays' 海角视频 business was acquired out of administration - keeping the doors open at 51 of the firm's restaurants.
The deal means 35 of the firm's eateries will close, with the loss of 1,000 jobs, although the company says it is doing all it can to “retain our team”. It has also been reported that bosses hope to secure further locations following discussions with the landlords.
A list has been issued of the TGI restaurants which will remain open.
READ MORE: {}
The owners of D&D London – Breal Capital and Calveton – have sealed the deal to acquire TGI Fridays, saving around 2,400 jobs. Breal Capital and Calveton, which acquired D&D London last year, acquired the business through their Liberty Bar and Restaurant Group.
Julie McEwan, Chief Executive of TGI Fridays 海角视频, 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 patrons for supporting us during this transition. We are proud to serve millions of customers across the 海角视频 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 Breal and Calveton 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.”
Daniel Smith, senior managing director of Teneo, said: “The casual dining sector has been adversely impacted by well-publicised pressures on discretionary spend. This transaction with Breal Capital and Calveton 海角视频 preserves a significant proportion of jobs and will hopefully provide the business with the stability and support it needs to recover and grow. We thank all employees and other key stakeholders for their support at this difficult time.”
Most Read
Hostmore, the former parent company of TGI Fridays in the 海角视频, citied a challenging set of circumstances when it filed for administration last month.
The list on full of the restaurants remaining open:
Bluewater, Trafford Centre, Meadowhall, Aberdeen Union Square, Metrocentre, Basildon, Glasgow Fort, Milton Keynes Stadium, Braehead, Wembley, Birmingham NEC, Glasgow, Junction 27, Castleford, Lakeside Quay, Teesside, Bolton, Norwich, St Davids, Doncaster, Lakeside, Fareham, Liverpool One, Stevenage, White Rose, Cribbs Causeway, Rushden Lakes, Stoke on Trent, Southampton, Silverburn, Watford Central, Aberdeen Beach, Braintree, Bournemouth, Stratford, High Wycombe, Cheshire Oaks, Walsall, Milton Keynes, Sheffield, Nottingham, Edinburgh, Coventry, Ashton-Under-Lyne, Telford, The O2, Staines, Crawley, Reading, Cheadle and Leicester Square.