TGI Fridays
2024 - 10 - 7TGI Fridays: A Sizzling Rescue Amidst a Chilly Job Loss!
Breal Capital - Calveton UK - job losses - rescue deal - restaurant closures - TGI Fridays - UK dining sceneTGI Fridays secures a rescue deal to keep the party alive but sadly bids farewell to 1000 jobs - find out the juicy details!
On October 7, 2024, TGI Fridays' operator, Thursdays UK Limited, entered administration, sending shockwaves through the restaurant's loyal fanbase. The event raised concerns about the future of the beloved chain and its famously vibrant atmosphere, as eager diners wondered whether their favourite ribs and cocktails would still be around. In a dramatic twist, TGI Fridays has secured a rescue deal—though not without a hefty price, as over 1000 jobs are lost and 35 restaurants have closed, including locations in Leicester and Gloucestershire.
The rescue package, acquired by private equity groups Calveton and Breal Capital, means that 51 restaurants will continue serving the UK's food-loving public, ensuring that burgers and cocktails remain a staple for many. However, the deal has come with an unfortunate catch; just as diners thought they could grab one more platter at their local, more than a thousand staff members found themselves facing redundancy. This news has left a bittersweet taste as the chain works to bounce back from the brink of disaster.
The closures—and the impact on staff—have sparked conversation across trade union circles, with the Unite union revealing that some employees were effectively locked out of their workplaces as a result of the sudden changes. A clear sign of the turbulent times for the UK hospitality sector, this sad turn of events has left numerous staff heartbroken—and understandably so. While some workers anxiously search for their next opportunity, TGI Fridays fights to maintain its recognition as a fun dining destination, fully focused on continuity in the operations that remain.
As we navigate through this challenging chapter for TGI Fridays, we can only hope for brighter days ahead for both the restaurants and their staff. While 35 branches are off the menu for the foreseeable future, we are reminded of the resilience of the hospitality sector. Interestingly, TGI Fridays remains a pioneer in the casual dining scene, first establishing its roots in New York City back in 1965. With over five decades of colourful history and legions of devoted customers, this turmoil may just be the next obstacle in its long journey. Like our beloved cocktails, let’s blend the bitter with the sweet and raise a toast to better times for TGI Fridays!
TGI Fridays' operator, Thursdays UK Limited, in administration ... (GOV.UK)
On 7 October 2024 the operator of TGI Fridays entered administration. This page gives information on how to claim redundancy or register as a creditor.
TGI Fridays rescue deal saves over 2000 UK jobs (BBC News)
Despite the deal, more 1000 staff will be made redundant, with more than 30 restaurants closing.
TGI Fridays closes in Leicester with 'immediate effect' (Leicestershire Live)
The deal announced today (Monday, October 7) will see TGI Fridays continue to operate across the UK but not in Leicester. Julie McEwan, chief executive of TGI ...
TGI Fridays secures rescue deal - but with loss of more than 1000 jobs (Sky News)
Thirty-five restaurants were not included in the rescue deal, meaning they were closed immediately. Trade union Unite is reporting staff were locked out of ...
Which TGI Fridays locations are closing? Full list (Tottenham Independent)
On Monday (October 7) joint administrators at Teneo revealed Breal Capital and Calveton UK had acquired 51 restaurants. The deal means TGI Fridays will remain ...
Surrey TGI Fridays saved as 35 restaurants shut and 1000 jobs lost (Surrey Live)
Branches have shut across the UK with immediate effect including Croydon and Bracknell branches.
TGI Fridays to close 35 UK restaurants resulting in job loses (Braintree and Witham Times)
More than 1000 staff at TGI Fridays have been made redundant with the immediate closure of 35 restaurants, administrators have revealed.
TGI Fridays secures rescue deal but more than 1000 UK jobs lost (The Guardian)
Private equity groups Calveton and Breal Capital to buy 51 restaurants, although 35 outlets will close.
TGI Fridays to close Gloucestershire restaurants (SoGlos)
TGI Fridays restaurants in Cheltenham and Gloucester are set to close immediately after a rescue deal fails to save the franchise, with 35 UK branches ...
Map shows all 35 TGI Fridays restaurants to close including in ... (Surrey Live)
More than 1,000 staff at 35 TGI Fridays branches were left without jobs after the chain announced the immediate closure of more than a third of its UK's ...
TGI Fridays to close 35 UK restaurants resulting in job loses (Keighley News)
More than 1000 staff at TGI Fridays have been made redundant with the immediate closure of 35 restaurants, administrators have revealed.
TGI Fridays sale: over 2000 jobs secured (The Caterer.com)
The future of TGI Fridays in the UK has been secured following its sale to the investors behind D&D London. Breal Capital and Calveton have agreed to ...
TGI Fridays: Full list of UK restaurants shutting down and remaining ... (The Independent)
Administrators said that 35 restaurants were not included in the sale and have been shut immediately.
Which TGI Fridays locations are closing? Full list (Wandsworth Guardian)
On Monday (October 7) joint administrators at Teneo revealed Breal Capital and Calveton UK had acquired 51 restaurants. The deal means TGI Fridays will remain ...
TGI Fridays U.K. loses 36 stores and 1000 jobs despite rescue deal (Nation's Restaurant News)
Breal Capital and Calveton UK have acquired 51 TGI Fridays from former Fridays master franchisee Hostmore PLC.
TGI Fridays rescue leads to 1000 job losses and 35 closures despite ... (Business MattersBusiness Matters)
More than 1000 jobs have been lost and 35 TGI Fridays branches closed as private equity firms rescue 51 restaurants, leaving remaining staff uncertain about ...
TGI Fridays UK secures rescue deal - but 1000 jobs lost as 35 ... (insider.co.uk)
Sign up to FREE email alerts from businessInsider - Business Newsletter sent Mon to Fri, twice each day with a full week's round up every SatMore ...
Future Of UK TGI Fridays Secured Saving Over 2000 Jobs - CLH ... (CLH News)
TGI FridaysTM, the original American cocktail bar and restaurant, has been acquired by Breal Capital and Calveton UK following completion of a successful ...
Heartbreak as county's two TGI Fridays close (Punchline Gloucester)
Gloucestershire's two TGI Fridays restaurants have closed with immediate effect after the company went into administration. The eateries at Gloucester Quays ...
Breal Capital and Calveton acquire TGI Fridays (MorningAdvertiser.co.uk)
TGI Fridays UK has been acquired by Breal Capital and Calveton UK following the completion of a successful sale process through acquisition vehicle Liberty ...
Which TGI Fridays locations are closing? Full list (Echo)
On Monday (October 7) joint administrators at Teneo revealed Breal Capital and Calveton UK had acquired 51 restaurants. The deal means TGI Fridays will remain ...
TGI Fridays closures: City restaurant issues 'heart-breaking ... (Gloucestershire Live)
The Gloucester Quays and Cheltenham restaurants are among those to be closed.
Full list of TGI Fridays restaurants shutting down and remaining open (Wirral Globe)
A rescue deal for TGI Fridays has seen 51 restaurants acquired by new owners after the previous UK operator collapsed into administration.
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