TGI Fridays has announced it will close 35 sites across the UK following a rescue deal.
The takeover by Breal Capital and Calveton UK will save 51 of the US-themed restaurants as well as over 2,000 jobs nationwide, after the company entered administration last month.
But 1,012 redundancies will be made as the remaining 35 restaurants not included in the rescue deal are set to close immediately.
Sites in Birmingham, Brighton Marina, Manchester and Leeds are among locations shuttered.
Restaurants that will continue trading include venues in Leicester Square, Cheadle and Liverpool One.
A total of 35 TGI Fridays restaurants are closing immediately following a rescue takeover deal
Sites in Birmingham, Bristol, Leeds and Manchester are among locations closing immediately
A TGI Fridays restaurant in Leicester Square. The site is one of 51 saved by the new takeover deal
The American chain was founded in 1965 by Alan Stillman, when the first restaurant opened in Manhattan, New York.
It has since grown to over 600 joints worldwide. The UK franchise operated 86 sites until its owner, Hostmore plc, fell into administration last month, citing a ‘very challenging set of circumstances’ as the reason behind the collapse.
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 look to the future with confidence that the TGI Fridays brand will continue to attract loyal and new guests.
‘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.
‘We would like to thank our team and our loyal guests for supporting us during this transition.
A TGI Fridays in Staines, Surrey. The UK franchise has been purchased by Breal and Calveton, which also acquired Quaglino’s restaurants last year
‘We are proud to serve millions of customers across the UK and are committed to continuing to evolve our proposition and to give our guests a great value for money experience that keeps them coming back to enjoy TGI Fridays time and again.’
New owners Breal and Calveton also acquired D&D London, which owns Quaglino’s restaurants and German Gymnasium, last year.
A spokesperson for the company said: ‘We are delighted to be working with such an enthusiastic and committed Management Team to both modernise the business and capitalise on the heritage of this iconic Brand.’
