TGI Fridays recently closed its Oxford Street location, marking the 36th closure in three months and a sharp decline for the brand in the UK. The chain, once popular for celebratory dining among younger patrons, has struggled with falling sales, reported at over 10% decline in the past year. Major changes occurred after it was taken out of administration in 2023, but the revival was insufficient. The closure of long-standing locations, like Leicester Square which opened in 2015 with considerable investment, highlights the brand's significant contraction from over 100 to just 50 sites in the UK.
In 2023, the chain was taken out of administration by Breal Capital and Calveton for £9.55 million. But that wasn't enough to completely revive it.
TGI Fridays Leicester Square shut its doors for good earlier this month. The site opened in 2015 after a huge £3.5m investment.
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