Iconic UK restaurant chain shuts 16 sites as over 450 jobs axed
Restaurant chain TGI Fridays announces closures
- TGI Fridays has closed 16 of its UK restaurants, leading to 456 job losses, after its operating company entered administration.
- Liberty Bar and Restaurant Group, which managed the chain's UK outlets, appointed administrators from Interpath Advisory.
- The business and its assets were immediately sold to Sugarloaf, the firm behind the global TGI Fridays brand, which had acquired the UK business two months prior.
- This pre-pack administration deal safeguarded 33 restaurants and transferred 1,384 workers to the new vehicle.
- The move is described as a pivotal step in TGI Fridays' wider turnaround plan, aiming to secure the brand's long-term future in the UK.