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More than 1,000 TGI Fridays employees in the UK are facing redundancy following the collapse of the company’s UK arm into administration. Despite a rescue deal orchestrated by Breal Capital and Calveton UK, the closure of 35 out of the chain’s 86 restaurants has led to significant job losses. However, the deal will save nearly 2,400 jobs across 51 other locations.
The buyers, Breal Capital and Calveton UK, already own restaurant chains Byron Burgers and Vinoteca, as well as D&D London. A spokesperson for the new owners highlighted plans to modernize the business and capitalize on the heritage of the TGI Fridays brand, while preserving as many jobs as possible. The goal, they said, is to provide stability and ensure future growth for the business.
The restaurants that closed include branches in Barnsley, Birmingham Hagley Road, Cardiff Newport Road, Leeds, Southampton, and many other locations across the UK. The closures followed the collapse of the UK arm of TGI Fridays' parent company, Hostmore, which fell into administration due to debt.
Retail experts have attributed the company’s struggles to its failure to adapt its meat-heavy menu to the evolving consumer demand for healthier options.
TGI Fridays, which first opened in New York in 1965, has had a presence in the UK for nearly 40 years, with its first UK restaurant opening in Birmingham. Despite the challenges, the new owners are optimistic about reviving the brand's appeal through strategic investments and a renewed focus on customer experience.
