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The parent company of TGI Fridays has filed a notice of intention to appoint administrators, only weeks after the business was acquired by Sugarloaf. Liberty Bar and Restaurant Group, TGI Friday’s UK holding company, filed the notice on 5 December.
The brand had recently been acquired by Sugarloaf TGIF Management, who took ownership of nearly 50 restaurants.
Last month however, it was reported that TGI Fridays British operations were thrown into doubt after the business was reportedly put up for sale just a month after the acquisition.
Interpath Advisory was appointed to explore strategic options for the business which comprises 49 sites and employs almost 2,000 people. According to reports, Interpath started contacting potential investors about a potential deal.
In a statement issued to Sky News at the time, Phil Broad, president, TGI Fridays International Franchising, said: “The directors of TGI Fridays UK can confirm they are working closely with independent advisors to explore all available options for securing the long-term future of TGI Fridays in the UK.
“Since assuming control last month, our priority has been to protect jobs, support our employees, and continue to deliver the welcoming, celebratory experience guests expect from TGI Fridays. These discussions are progressing constructively, and we will provide further updates when appropriate.”
TGI Fridays has been contacted for comment.
