About 50 TGI Fridays restaurants in the UK have been saved following a rescue deal for the chain (Chris Ison/PA)TGI Fridays will remain on UK high streets following a rescue deal for the chain, News Today but more than 1,000 staff have lost their jobs with the immediate closure of 35 restaurants.
Breal Capital and Calveton UK have acquired 51 restaurants after the group’s previous operator fell into administration.
It means that nearly 2,400 jobs have been saved across the US-themed restaurant and cocktail bar.
But joint administrators at Teneo said 35 restaurants were not included in the sale and have been closed immediately, resulting in 1,012 redundancies.
We are devastated for our colleagues who will be leaving TGIs and thank them for their loyalty and contribution during their time with usJulie McEwan, TGI Fridays' chief executive
Julie McEwan, chief executive of TGI Fridays UK, News Today 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 News Today thank them for their loyalty and contribution during their time with us.