TGI Friday’s UK owners have gone into administration, casting uncertainty over the fate of 87 branches and roughly 4,500 jobs.
The brand which owns TGI Fridays, Hostmore, confirmed it had brought in the administrators and has not yet secured a buyer for the American restaurant chain.
According to the TGI Fridays website, the brand employs about 4,500 people in the UK, but the number of staff members affected is unknown.
A Hostmore spokesperson said: “The board is immensely proud of all Hostmore colleagues, both in store and in the support centre, who worked tirelessly to execute a turnaround programme over the past 18 months and to deliver a successful result on the proposed acquisition of TGI Fridays, Inc.
They added that they’d inherited a “challenging set of circumstances” as they sought ways to reduce costs.
“Unfortunately, all of the board’s efforts to implement a lasting solution to support the long-term financial future of the business came against a highly challenging trading and macroeconomic backdrop, and efforts to create value for shareholders through the proposed acquisition of TGI Fridays, while well-advanced, encountered adverse events outside of the board’s control."
TGI Fridays is known for its bistro-style American food such as burgers, ribs, and loaded nachos.
After massive success in the US after being founded in New York in 1965, the brand opened its first UK outlet in Birmingham in 1986. It spread nationwide with famous stores in spots including London’s Covent Garden.
However, Hostmore has reported challenges since at least last year. Share prices have since plummeted, jeopardising the brand’s future.
With Hostmore now looking at administration, it’s uncertain whether another buyer will be found for some or all of TGI Friday’s UK chains. Restaurant stores will remain open for the time being.
TGI Fridays restaurants in the UK at risk
- Aberdeen Beach
- Aberdeen Union Square
- Ashton-under-Lyne
- Barnsley
- Basildon
- Birmingham
- Birmingham NEC
- Bluewater
- Bolton
- Bournemouth
- Bracknell
- Braehead
- Braintree
- Brighton Marina
- Cabot Circus
- Cardiff Newport Road
- Cardiff St David's
- Castleford
- Cheadle
- Chelmsford
- Cheltenham
- Cheshire Oaks
- Coventry
- Crawley
- Cribbs Causeway
- Croydon
- Derby
- Doncaster
- Durham
- Edinburgh
- Enfield
- Fareham
- Fort Kinnaird
- Gateshead
- Glasgow Buchanan Street
- Glasgow Fort
- Gloucester Quays
- Halifax
- High Wycombe
- Jersey
- Lakeside Quay
- Lakeside Retail Park
- Leeds Junction 27
- Leeds Wellington Bridge Street
- Leeds White Rose
- Leicester
- Lincoln
- Liverpool One
- Liverpool Speke
- London Leicester Square
- London Stratford City
- London the O2
- Manchester Royal Exchange
- Meadowhall
- Metro Centre Gateshead
- Milton Keynes
- Milton Keynes Stadium
- Newcastle Eldon Square
- Newport Friars Walk
- Northampton
- Norwich
- Nottingham
- Prestwich
- Reading
- Romford
- Rushden Lakes
- Sale
- Sheffield
- Silverburn
- Solihull
- Southampton Retail Park
- Staines
- Stevenage
- Teesside
- Telford
- Trafford Centre
- Trinity Leeds
- Walsall
- Watford Central
- Watford North
- Wembley
- West Quay
