Interactive map reveals 87 TGI Friday’s restaurants at risk of closure as owner scrambles to sell chain – see full list --[Reported by Umva mag]

COLLAPSING chain TGI Friday’s is at risk of closing all 87 of its UK restaurants after it put them up for sale – see our map showing all the locations affected. Today it was confirmed that the restaurant chain’s owner Hostmore had put all 87 of its TGI Friday’s outlets up for sale. SOPA Images/LightRocket via GettThe chain is one of the most recognisable on British high streets[/caption] AlamyIt comes after the chain’s owner suffered a failed merger with the company which operates the same brand in the US[/caption] Earlier this month, Hostmore cast doubt on the future of the brand when revealed it would be winding up its ownership by the end of September. Analysts had warned that this could mean “game over” for the American themed chain. Sites across the UK all the way from Aberdeen to Southampton have been put up for sale, potentially impacting millions of diners. Hostmore is currently scrambling to sell the TGI Friday’s franchise so that it can continue to operate under new ownership. The hospitality firm said it had appointed joint administrators from Teneo and hopes to sell all of its 87 UK restaurants to new owners by the end of September. If successful, the TGI Friday’s brand could stay alive and the losses of thousands of jobs could be prevented. But it said earlier this month that it was not expecting to “recover any meaningful value” from the sale of sites – meaning it would earn less from the sale than it owes to creditors and banks. It has not been confirmed if all of TGI’s restaurants could be saved, or just a selection, with others potentially being taken over by another chain. The restaurant chain first opened in the UK in the 1980s and has been a popular destination for birthday parties and cocktail nights for the last 40 years. The first branch of T.G.I. Friday’s was opened in New York in 1965 to celebrate weekend dining – the name means ‘Thank God It’s Friday – and in 1986 the brand was imported to the UK. This comes after Hostmore abandoned plans to buy all the TGI restaurants in the US, where there are 128 sites, in a deal that would have been worth £177million. It would have merged with US-based TGI Fridays Inc, to create a larger firm that would remain listed in London. But the takeover plans were dropped after a management change which would have meant it could not collect royalties from the TGI Fridays brand. News of the collapse caused shares in the London-listed company tank by more than 90 per cent. The share price has fallen by 98 per cent since the start of this month to just 19p as of today. The American-inspired restaurant chain continues to stay open as normal while the administration process starts. Which TGI Fridays locations are affected? All of the brand’s 87 UK outlets are in the process of being sold, affecting the following locations: Aberdeen Beach Aberdeen Union Square Ashton-under-Lyne Barnsley Basildon Birminghm Birmingham NEC Bluewater Bolton Bournemouth Bracknell Braehead Braintree Brighton Marina Cabot Circus Cardiff Newport Road Cardiff St David’s Castleford Cheadle Chelmsford Cheltenham Cheshire Oaks Coventry Crawley Cribbs Causeway Croydon Derby Doncaster Durham Edinburgh Enfield Fareham Fort Kinnaird Gateshead Glasgow Buchanan Street Glasgow Fort Gloucester Quays Halifax High Wycombe Jersey Lakeside Quay Lakeside Retail Park Leeds Junction 27 Leeds Wellington Bridge Street Leeds White Rose Leicester Lincoln Liverpool One Liverpool Speke London Leicester Square London Stratford City London the O2 Manchester Royal Exchange Meadowhall Metro Centre Gateshead Milton Keynes Milton Keynes Stadium Newcastle Eldon Square Newport Friars Walk Northampton Norwich Nottingham Prestwich Reading Romford Rushden Lakes Sale Sheffield Silverburn Solihull Southampton Retail Park Staines Stevenage Teesside Telford Trafford Centre Trinity Leeds Walsall Watford Central Watford North Wembley West Quay

Sep 19, 2024 - 18:23

Interactive map reveals 87 TGI Friday’s restaurants at risk of closure as owner scrambles to sell chain – see full list --[Reported by Umva mag]

COLLAPSING chain TGI Friday’s is at risk of closing all 87 of its UK restaurants after it put them up for sale – see our map showing all the locations affected.

Today it was confirmed that the restaurant chain’s owner Hostmore had put all 87 of its TGI Friday’s outlets up for sale.

SOPA Images/LightRocket via GettThe chain is one of the most recognisable on British high streets[/caption]

a group of people sitting at tables outside of a restaurant called friday 's

It comes after the chain’s owner suffered a failed merger with the company which operates the same brand in the US[/caption]

Earlier this month, Hostmore cast doubt on the future of the brand when revealed it would be winding up its ownership by the end of September.

Analysts had warned that this could mean “game over” for the American themed chain.

Sites across the UK all the way from Aberdeen to Southampton have been put up for sale, potentially impacting millions of diners.

Hostmore is currently scrambling to sell the TGI Friday’s franchise so that it can continue to operate under new ownership.

The hospitality firm said it had appointed joint administrators from Teneo and hopes to sell all of its 87 UK restaurants to new owners by the end of September.

If successful, the TGI Friday’s brand could stay alive and the losses of thousands of jobs could be prevented.

But it said earlier this month that it was not expecting to “recover any meaningful value” from the sale of sites – meaning it would earn less from the sale than it owes to creditors and banks.

It has not been confirmed if all of TGI’s restaurants could be saved, or just a selection, with others potentially being taken over by another chain.

The restaurant chain first opened in the UK in the 1980s and has been a popular destination for birthday parties and cocktail nights for the last 40 years.

The first branch of T.G.I. Friday’s was opened in New York in 1965 to celebrate weekend dining – the name means ‘Thank God It’s Friday – and in 1986 the brand was imported to the UK.

This comes after Hostmore abandoned plans to buy all the TGI restaurants in the US, where there are 128 sites, in a deal that would have been worth £177million.

It would have merged with US-based TGI Fridays Inc, to create a larger firm that would remain listed in London.

But the takeover plans were dropped after a management change which would have meant it could not collect royalties from the TGI Fridays brand.

News of the collapse caused shares in the London-listed company tank by more than 90 per cent.

The share price has fallen by 98 per cent since the start of this month to just 19p as of today.

The American-inspired restaurant chain continues to stay open as normal while the administration process starts.

Which TGI Fridays locations are affected?

All of the brand’s 87 UK outlets are in the process of being sold, affecting the following locations:

Aberdeen Beach
Aberdeen Union Square
Ashton-under-Lyne
Barnsley
Basildon
Birminghm
Birmingham NEC
Bluewater
Bolton
Bournemouth
Bracknell
Braehead
Braintree
Brighton Marina
Cabot Circus
Cardiff Newport Road
Cardiff St David’s
Castleford
Cheadle
Chelmsford
Cheltenham
Cheshire Oaks
Coventry
Crawley
Cribbs Causeway
Croydon
Derby
Doncaster
Durham
Edinburgh
Enfield
Fareham
Fort Kinnaird
Gateshead
Glasgow Buchanan Street
Glasgow Fort
Gloucester Quays
Halifax
High Wycombe
Jersey
Lakeside Quay
Lakeside Retail Park
Leeds Junction 27
Leeds Wellington Bridge Street
Leeds White Rose
Leicester
Lincoln
Liverpool One
Liverpool Speke
London Leicester Square
London Stratford City
London the O2
Manchester Royal Exchange
Meadowhall
Metro Centre Gateshead
Milton Keynes
Milton Keynes Stadium
Newcastle Eldon Square
Newport Friars Walk
Northampton
Norwich
Nottingham
Prestwich
Reading
Romford
Rushden Lakes
Sale
Sheffield
Silverburn
Solihull
Southampton Retail Park
Staines
Stevenage
Teesside
Telford
Trafford Centre
Trinity Leeds
Walsall
Watford Central
Watford North
Wembley
West Quay

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