TGI Friday's closes in Bristol with 'immediate effect'
The much-loved chain has been the subject of a rescue deal
by Mark Taylor · BristolLiveThe Bristol Cabot Circus branch of TGI Friday's is to close with immediate effect. The restaurant brand will remain in the UK following a rescue deal for the chain, but more than 1,000 staff have lost their jobs with the immediate closure of 35 restaurants, although 51 branches will remain open including the one at Cribbs Causeway.
Breal Capital and Calveton UK have acquired 51 restaurants after the group’s previous operator fell into administration. It means that nearly 2,400 jobs have been saved across the US-themed restaurant and cocktail bar. But joint administrators at Teneo said 35 restaurants were not included in the sale and have been closed immediately, resulting in 1,012 redundancies.
Julie McEwan, chief executive of TGI Friday's UK, said: “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. We are devastated for our colleagues who will be leaving TGIs and thank them for their loyalty and contribution during their time with us. We are doing everything possible to retain our team and support those impacted.”
Daniel Smith, senior managing director of Teneo, said the acquisition "preserves a significant proportion of jobs and will hopefully provide the business with the stability and support it needs to recover and grow". New private equity owners Breal and Calveton jointly own upmarket restaurant chain D&D London, and between them have had investments in Byron Burger and wine bar chain Vinoteca.
Trade union Unite said on X, formerly Twitter, that it had been hearing from members who had been "furiously contacting" the hospitality organisers in response to the immediate closures. It reported that staff had been shut out of restaurants, with padlocks on the doors changed, or given no form of redundancy consultation, while others were invited to a video call with members of the head office with one hour's notice.
Other workers said they had not been told whether or not they will be paid, according to the trade union. TGI Fridays' previous UK operator, Hostmore, appointed administrators last month and had been hoping to secure a buyer for the chain.
Full list of 35 TGI Friday's sites closing
- Barnsley
- Birmingham
- Bracknell
- Brighton Marina
- Bristol Cabot Circus
- Cardiff Newport Road
- Chelmsford
- Cheltenham
- Croydon
- Derby
- Dundee
- Durham
- Edinburgh Fort Kinnaird
- Enfield
- Gateshead
- Gloucester Quays
- Halifax
- Jersey
- Leeds
- Leeds Trinity
- Leicester
- Lincoln
- Manchester Royal Exchange
- Newcastle Eldon Square
- Newport
- Northampton
- Prestwich
- Romford
- Sale
- Solihull
- Southampton West Quay South
- Speke
- Sutton Coldfield
- Swansea
- Watford North
Over the weekend, reports surfaced about a potential deal, with Sky News indicating that "final details were still being ironed out". Last month saw TGI Friday's fall into administration, with Teneo stepping in as the appointed administrator to oversee the chain.
Hostmore, the parent company of TGI Friday's, attributed the collapse to a "very challenging set of circumstances". Despite these developments, the restaurant chain's 87 UK locations have continued to operate as usual according to the latest information.
Currently, TGI Friday's employs approximately 3,000 staff across the UK. The chain, which first launched in the UK during the 1980s, has become a firm favourite for birthday celebrations and cocktail evenings over the past four decades.
The original TGI Friday's opened its doors in New York back in 1965, created as a venue to celebrate the weekend vibe, hence the name "Thank God It's Friday". Following its initial launch in Birmingham, the chain quickly expanded nationwide, becoming well-known for its laid-back American bistro-style dining experience.