NEWS: TGI Fridays UK Rescued in Pre-Pack Administration as 33 Restaurants Continue Trading

TGI Fridays UK has successfully secured its future following a pre-pack administration deal that will see 33 restaurants continue trading, while 16 sites will close. The move comes as part of a strategic effort to ensure the long-term stability of the brand in the UK.

The business and assets of Liberty Bar and Restaurant Group, the company responsible for operating TGI Fridays in the UK, have been acquired by Sugarloaf TGIF Operations Ltd. As part of the transaction, 1,384 employees will transfer to the new business, preserving a significant number of jobs within the hospitality sector.

Earlier this month, industry reports suggested that up to 20 sites could close. Ultimately, 16 sites were not included in the transaction and have ceased operations with immediate effect, resulting in approximately 450 redundancies.

Phil Broad, Global President of TGI Fridays, said: "We have been working closely to explore all available options for securing the long-term future of TGI Fridays in the UK. We believe this is the best outcome for the business. It preserves jobs, safeguards our iconic brand, and provides a strong platform for future success and growth."

The deal represents a significant step in stabilizing TGI Fridays’ UK operations, allowing the company to focus on delivering high-quality dining experiences across its 33 remaining locations.