TGI Fridays: 1,000 UK jobs to go despite rescue deal
More than 1,000 of TGI Fridays’ UK staff will be made redundant despite a rescue deal from the owners of restaurant group D&D London.
They have bought the UK operator of the American-themed chain, after its owner fell into administration last month.
The deal will save nearly 2,400 jobs at 51 restaurants, but the administrators, Teneo, said 35 branches have been closed with immediate effect.
TGI Fridays UK said it was working with landlords on a deal to save the closed restaurants.
“We are doing everything possible to retain our team and support those impacted,” said chief executive Julie McEwan.
She added she was “devastated for our colleagues who will be leaving TGIs and thank them for their loyalty and contribution during their time with us”.
The buyers, Breal Capital and Calveton UK, already own restaurant chains Byron Burgers and Vinoteca as well as restaurant group D&D London.
A spokesperson for the new owners said it wanted to “both modernise the business and capitalise on the heritage of this iconic brand”.
They added that the deal “preserves a significant proportion of jobs and will hopefully provide the business with the stability and support it needs to recover and grow”.
The restaurants being saved are: 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.
Breal and Calveton secured the deal on Monday after TGI Fridays’ UK owner Hostmore collapsed into administration.
