Rescue deal for TGI Fridays struck – London Business News | Londonlovesbusiness.com

A rescue deal for TGI Fridays has been struck but some 1,000 jobs will be lost as 35 restaurants will be closed for good.

51 TGI Fridays restaurants have been acquired by Breal Capital and Calverton UK following the company falling into administration.

The US themed restaurant and cocktail bar will see almost 2,400 being saved under the rescue deal.

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.”