The acquisition of TGI Fridays’ UK business has preserved over 2,000 jobs, offering hope amid tough times for the casual dining sector.
- 51 TGI Fridays restaurants remain operational following a rescue deal, while 35 locations face closure, impacting 1,000 employees.
- Breal Capital and Calveton, through the Liberty Bar and Restaurant Group, have taken the helm to steer TGI Fridays UK into a promising future.
- Julie McEwan expresses confidence in retaining loyal customers and praises employees for their dedication during challenging times.
- The new management team aims to revitalize TGI Fridays, capitalizing on its strong brand heritage and addressing sector challenges.
In a significant development for the UK’s casual dining industry, over 2,000 jobs have been secured as TGI Fridays’ UK business emerges from administration. This acquisition keeps 51 out of the firm’s restaurants operational, promising stability and continuity for employees and patrons alike.
Despite the positive outcome, 35 TGI Fridays locations will unfortunately close, resulting in the loss of 1,000 jobs. Management is striving to retain as many team members as possible, with efforts to explore additional employment opportunities for those affected.
Breal Capital and Calveton, which successfully acquired the business through their Liberty Bar and Restaurant Group, have taken strategic steps to rejuvenate TGI Fridays. Last year, these firms also took over D&D London, showcasing their investment in the dining sector.
Julie McEwan, Chief Executive of TGI Fridays UK, remains optimistic about the brand’s future, highlighting its rich heritage and strong customer base. She assures continued efforts to improve customer experience while supporting displaced employees.
The new leadership is enthusiastic about modernizing TGI Fridays and leveraging its iconic status. They aim to enhance the dining experience while navigating the current economic pressures that challenge discretionary spending within the hospitality industry.
The strategic acquisition of TGI Fridays UK sets a hopeful trajectory for the brand, preserving jobs and fostering future growth.
