Part of restaurant chain TGI Fridays has been bought by private equity firms Calveton and Breal Capital in a deal that will save 51 of the chain’s 87 dining spots. But it’s estimated that, despite the sale, there will be over 1,000 redundancies.
Joint administrators at Teneo said the restaurants not included in the sale have been closed immediately, resulting in 1,012 job losses.
The sale has come as a shock to the parts of the business that are facing closure. Reports earlier today by hospitality industry union Unite Hospitality said that staff were shut out of sites with the locks changed. Meanwhile, there was no warning of potential redundancies or consultation with those employed by the chain.
Unite tweeted that workers were “invited to head office zoom call with one hour’s notice. Many members haven’t even received the invite.”
🚨 BREAKING 🚨
Mass immediate closures at @TGIFridays across the UK.
Members have been furiously contacting us all morning in response to news that:
🤯Staff have been shut-out of sites & padlocks changed.
😡 Zero notice or redundancy consultation.
😤 Workers invited to head…— Unite Hospitality (@FairHospitality) October 7, 2024
The company’s UK chief executive, Julie McEwan 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,” she added.
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The full list of restaurants that will remain open is:
Bluewater
Trafford Centre
Meadowhall
Aberdeen Union Square
Metrocentre
Basildon
Glasgow Fort
Milton Keynes Stadium
Braehead
Wembley
Birmingham NEC
Glasgow
Junction 27
Castleford
Lakeside Quay
Teesside
Bolton
Norwich
St Davids
Doncaster
Lakeside
Fareham
Liverpool One
Stevenage
White Rose
Cribbs Causeway
Rushden Lakes
Stoke on Trent
Southampton
Silverburn
Watford Central
Aberdeen Beach
Braintree
Bournemouth
Stratford
High Wycombe
Cheshire Oaks
Walsall
Milton Keynes
Sheffield
Nottingham
Edinburgh
Coventry
Ashton-Under-Lyne
Telford
The O2
Staines
Crawley
Reading
Cheadle
Leicester Square
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A rescue deal for the UK arm of TGI Fridays has been struck, with two private equity groups to buy 51 restaurants – although a further 35 outlets are to close
TGI Fridays will remain on UK high streets after a rescue deal was secured for the restaurant chain - but more than 1,000 staff have lost their jo
The UK operator of TGI Fridays revealed last month it had entered administration as it scrambled to sell its chain of 87 restaurants across the country.
More than 1,000 of TGI Fridays' UK staff will be made redundant despite a rescue deal from the owners of restaurant group D&D London.They have bought the UK