Redundancies: More than 1,000 staff members have lost their jobs at TGI Fridays after a rescue deal failed
More than 1,000 staff members have lost their jobs at TGI Fridays after a rescue deal failed.
Breal Capital and Calveton UK have bought 51 restaurants after the group’s previous operator fell into administration.
It means that nearly 2,400 jobs have been saved across the US-themed restaurant and cocktail bar.
But joint administrators at advisory firm Teneo said 35 restaurants were not included in the sale and have been closed immediately, resulting in 1,012 redundancies.
Julie McEwan, chief executive of TGI Fridays UK, said: ‘The news marks the start of a positive future for our business following a very challenging period for the casual dining sector as a whole.
‘We are devastated for our colleagues who will be leaving TGIs and thank them for their loyalty and contribution during their time with us. We are doing everything possible to retain our team and support those impacted.’
TGI Fridays’ 86 restaurants in the UK were operated by London-listed Hostmore before it collapsed into administration last month.
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