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TGI Fridays is set to close 16 restaurants across the UK after a pre-pack administration sale of its main operating business, resulting in 456 redundancies.
The business and assets of Liberty Bar and Restaurant Group, which operates TGI Fridays’ UK estate, have been sold to Sugarloaf TGIF Operations in a transaction that secures the continued operation of 33 restaurants.
Ryan Grant and Will Wright, managing director and partner at Interpath, were appointed joint administrators to Liberty Bar and Restaurant Group on 13 January 2026.
Immediately after their appointment, they completed the sale of the business to Sugarloaf TGIF Operations, a company owned by Sugarloaf, the manager and custodian of the global TGI Fridays brand.
As part of the transaction, 1,384 employees have transferred to the new owner under the Transfer of Undertakings (Protection of Employment) TUPE arrangements. However, 16 sites were not included in the sale and have closed with immediate effect.
Interpath stated that support will be provided to employees affected by redundancy.
Grant, managing director at Interpath and joint administrator, said: “We are pleased to have been able to secure this transaction which will see this well-known brand continue to trade across the UK. While these have been difficult times for hospitality operators generally, this marks a pivotal step in TGI Friday’s wider turnaround plan, putting in place stable foundations upon which it can begin to move forward.”
Phil Broad, global president at TGI Fridays, added: “We have been working closely to explore all available options for securing the long-term future of TGI Fridays in the UK, and believe that this is the best outcome for the business, preserves jobs, and offers a strong platform for success and growth.”
