‘I fired the board that fired me’: TGI Fridays boss on restaurant turnaround Hospitality TGI Fridays had its heyday in the 1980s but slumped into administration last year. Its new boss Ray Blanchette tells Felix Armstrong the nostalgic chain can win back Britain after a period in turmoil. “I land at Heathrow and jump in a cab. The plane got in late,” says Ray Blanchette, recalling the day he [...]
TGI Fridays: Full list of UK restaurants staying open after rescue deal agreed hospitality More than 2,000 jobs have been saved after a deal to acquire the UK operation of American cocktail bar and restaurant chain TGI Fridays out of administration was agreed. Breal Capital and Calveton, who own restaurant group D&D London, have snapped up a majority stake for an undisclosed sum through their acquisition vehicle Liberty Bar and Restaurant [...]
TGI Fridays rescue deal nears completion hospitality A rescue deal for TGI Fridays’ embattled UK operations is set to be finalised over the weekend, potentially saving over 2,000 jobs. Breal Capital and Calveton, owners of restaurant group D&D London, are expected to acquire a majority stake in the American diner-inspired restaurant chain as soon as Monday, according to Sky News. Final details are [...]
TGI Fridays UK collapses into administration as all restaurants put up for sale September 18, 2024 The company behind TGI Fridays restaurants in the UK has collapsed into administration as it attempts to see all its 87 sites across the country. London-listed Hostmore has appointed administrators from Teneo to oversee the process after plans to buy the US restaurant chain collapsed earlier this month. The business said it hopes to sell [...]
‘Game over’ for TGI Fridays’ UK owner Hostmore as shares crater almost 90 per cent September 9, 2024 TGI Fridays’ UK owner Hostmore is set to be wound down in a move that could wipe out its shareholders, after revealing it had dropped plans to buy the US restaurant chain for £177m. Shares in the London-listed company tanked by almost 90 per cent following the announcement on Monday. Hostmore, a hospitality firm which [...]
TGI Fridays acquired by listed UK outfit in rare win for the capital April 16, 2024 The "transformational combination" would merge "TGI Fridays' largest franchisee with the global franchisor", and is being classed as a reverse takeover.