TGI Fridays has permanently closed 16 of its UK restaurants and cut 456 jobs after the company operating the chain entered administration.
Liberty Bar and Restaurant Group, which runs the American‑themed brand’s UK operations, appointed administrators from Interpath Advisory on Tuesday, following two earlier filings in December.
Ryan Grant and Will Wright were named as joint administrators to oversee the process.
A rescue deal was completed shortly after the administration began, allowing most TGI Fridays sites to continue trading.
However, 16 restaurants were excluded from the agreement and shut immediately. Administrators said supporting staff affected by redundancy remains a priority.
The business and its assets were sold to Sugarloaf TGIF Operations Ltd, a subsidiary of Sugarloaf, which manages the TGI Fridays brand globally.
The transaction, completed through a pre‑pack administration, secures the future of 33 restaurants across the UK.
As part of the sale, 1,384 employees transferred to the new company, ensuring continuity for the majority of staff and customers.
TGI Fridays closes 16 UK restaurants and cut 456 jobs
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Sugarloaf had already acquired the UK business from private equity owners Calveton UK and Breal Capital around two months before the administration.
The latest development follows a prolonged period of financial difficulty for the chain’s British arm.
TGI Fridays, which launched in the UK in 1986 with a site on Birmingham’s Hagley Road, once operated a far larger estate, but years of closures and restructuring have reduced its footprint.
Phil Broad, global president of TGI Fridays, said the administration process had delivered the best available outcome.
The rest of the sites’ future has secured through a takeover agreement
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“We have been working closely to explore all available options for securing the long‑term future of TGI Fridays in the UK, and believe this is the best outcome for the business, preserves jobs, and offers a strong platform for success and growth,” he said.
According to Mr Broad, the agreement allows the brand to continue operating across much of the UK market and places its future “in strong hands” focused on reinvigorating the offer while maintaining the bold flavours and high‑energy dining experience associated with the chain.
Interpath’s Ryan Grant also welcomed the completion of the deal.
“We are pleased to have been able to secure this transaction which will see this well‑known brand continue to trade across the UK,” he said, noting the wider pressures facing the hospitality sector.
Rachel Reeves has been accused for rising costs and tough trading conditions
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GETTYHe added rising costs and tough trading conditions have challenged operators across the industry.
He said: “While these have been difficult times for hospitality operators generally, this marks a pivotal step in TGI Fridays’ wider turnaround plan, putting in place stable foundations upon which it can begin to move forward.”
Administrators say their immediate focus is on supporting staff affected by the restructuring.
The news comes at a difficult moment for the casual dining market, where higher food prices, wage inflation and soaring energy bills have pushed several well‑known brands into restructuring or insolvency.
Analysts warn that conditions remain challenging for many mid‑market chains.
Even so, administrators said the sale ensures TGI Fridays retains a significant UK presence and gives the business a platform to stabilise operations and plan future investment.