TGI Fridays in Croydon is closing as the chain enters administration, with 35 restaurants across the UK set to shut down, putting jobs at risk.
Julie McEwan, chief executive of TGI Fridays UK, expressed optimism: "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."
A spokesperson for the new owners highlighted their commitment: "We are delighted to be working with such an enthusiastic and committed management team to both modernise the business and capitalise on the heritage of this iconic brand."
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