Over 1,000 Jobs Lost as TGI Fridays Shuts 35 UK Restaurants
Massive Closures Hit UK TGI Fridays
TGI Fridays has slashed more than 1,000 jobs after shutting 35 of its UK restaurants with immediate effect. The company’s UK operator, which runs 87 outlets, entered administration last month trying to sell off the chain.
51 Restaurants Saved in Last-Minute Deal
On Monday, October 7, joint administrators confirmed Breal Capital and Calveton UK snapped up 51 of the restaurants. This rescue deal keeps TGI Fridays alive on the UK high street and saves nearly 2,400 roles.
Devastating Blow for Over 1,000 Staff
Sadly, the 35 restaurants left out of the sale have closed for good, costing 1,012 people their jobs.
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.”
Failed £177 Million Takeover Worsened Crisis
The London-listed hospitality group collapsed after a £177 million bid to buy the US TGI Fridays chain was scrapped in September. The takeover would have merged UK and US operations into a larger London-listed company. However, a sudden management shake-up meant the group lost the right to collect royalties from the brand, derailing the deal.
TGI Fridays Joins a Troubled Casual Dining Market
TGI Fridays isn’t alone—the year 2024 has already seen major names like Papa John’s and The Body Shop announce closures across the UK, signalling tough times ahead for well-known high street brands.
