TGI Fridays will remain on UK high streets following a rescue deal for the chain, but more than 1,000 staff have lost their jobs with the immediate closure of 35 restaurants - with the Bolton branch of the chain saved. Breal Capital and Calveton UK have acquired 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 Teneo said 35 restaurants were not included in the sale and have been closed immediately, resulting in 1,012 redundancies . The local restaurants shutting are Sale, Royal Exchange, Manchester, and the restaurant in Prestwich Valley Park Road. The local TGI Fridays UK restaurants remaining open are: Trafford Centre, Middlebrook Bolton, Ashton-Under-Lyne, and Cheadle.
Julie McEwan, chief executive of TGI Fridays UK, said: “The news today 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.
” Daniel Smith, senior managing director of Teneo, said the acquisition “preserves a significant proportion of jobs and will hopefully provide the business with the stability and support it needs to recover and grow”. New private.