Overview
- Liberty Bar and Restaurant Group, which runs TGI Fridays in the UK, lodged a third notice of intent to appoint administrators, securing another roughly 10 days to finalize a plan.
- An insolvency deal could be confirmed as soon as next week, with Sky News reporting options under review that include a pre-pack sale.
- Reports indicate 15 to 20 of the 49 UK restaurants could close, putting hundreds of jobs at risk, though the final number has not been decided.
- TGI Fridays says it is assessing options, has engaged advisors at Interpath, and that all locations continue to trade with no final decisions announced.
- After a prior administration led to about 35 site closures, Sugarloaf TGIF Management acquired the remaining UK business in November, preserving 49 sites and roughly 2,000 jobs.