Administrators are finalising a rescue deal for TGI Fridays UK, potentially saving over 2,000 jobs by transferring up to 55 restaurants to new owners.
The ownership would pass to Calveton and Breal Capital, expanding their portfolio which includes high-end venues while marking a shift from their usual upmarket focus.
In a bid to save the business, Hostmore appointed administrators after struggling to improve the chain's performance, grappling with significant losses and debts.
TGI Fridays has been a staple since 1965, originally selling classic American dishes, but has faced challenges in maintaining its market position in the UK.
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