TGI FridaysTM, the original American cocktail bar and restaurant, News Today has been acquired by Breal Capital and Calveton UK following completion of a successful sale process through its acquisition vehicle Liberty Bar and Restaurant Group Limited.
The deal announced today will see TGI Fridays continue to operate across the UK and serve its millions of loyal guests. The sale, which is based on 51 restaurants, should secure the future of more than 2,000 jobs across those restaurants.
We are also hopeful that we may be able to secure further locations following discussions with the landlords.
Julie McEwan, Chief Executive of TGI Fridays UK, said:
"TGI Fridays is a much-loved brand with a rich heritage. 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 News Today 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.
