Hostmore

TGI Fridays closes Leicester Square flagship

TGI Fridays has confirmed that it has closed its flagship venue in London’s Leicester Square. The casual-dining restaurant had opened the landmark venue in 2015 following a multi-million pound investment. A spokesperson for TGI Fridays said: “Our Leicester Square restaurant closed earlier this month. This was a mutual planned closure…

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D&D London closes in on TGI Fridays rescue deal

TGI Fridays is close to a rescue deal with D&D London owners Breal Capital and Calveton as they could look to acquire the majority of the business as early as today (7 October 2024), according to Sky News.  Sky News has learnt that the rescue deal will salvage more than…

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Today’s news in brief – 24/09/24

D&D London is in talks to rescue the UK operations of TGI Friday’s, Sky News has reported, following the collapse of its UK parent company Hostmore last week. Industry sources told Sky the deal was likely to see the new owners taking over the majority of its 89 sites, despite…

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D&D London owners in talks over TGI Friday’s rescue deal

Breal Capital and Calveton, owners of D&D London, are reportedly in talks over a bid to rescue the UK operations TGI Friday’s, according to Sky News. TGI Friday’s UK parent company Hostmore fell into administration last week (19 September). Industry sources told Sky the deal was likely to see the…

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Today’s news in brief – 19/09/24

Hostmore has fallen into administration, endangering some 4,500 jobs. While a total of 87 TGI Fridays restaurants have been put up for sale, they will continue to operate as normal during the administration process. The news comes after Hostmore’s plans to acquire the US operator of TGI Fridays for £177m…

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TGI Friday owner calls in administrators, 4,500 jobs at risk

Hostmore, the group behind TGI Fridays restaurants in the UK, has officially appointed administrators from Teneo Financial Advisors. A total of 87 TGI Fridays restaurants have been put up for sale, endangering some 4,500 jobs. Hostmore said it is hopeful that all UK-based restaurants sell to new owners by the…

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Hostmore abandons bid to acquire TGIF

Hostmore has abandoned its plans to acquire TGI Fridays over legal issues.  The news comes after the board confirmed that TGI Fridays lost control of TGIF Funding, which holds legal title to the franchise agreement royalties and other various fees and revenue from intellectual property of the TGI Fridays business. …

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Today’s news in brief – 04/06/24

Hostmore’s year-to-date LFL sales fell 10% during the same 20-week period in 2023. This comes despite the group’s EBITDA continuing to perform ahead of last year during the period, with the first four months to the end of April being higher by £3.3m. According to CFO Matthew Biddy, the board…

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Hostmore year-to-date LFL sales fall 10%

Hostomer has revealed that year-to-date like-for-like sales were 10% lower than during the same 20-week period in 2023. This comes despite the group’s EBITDA continuing to perform ahead of last year during the period to 19 May, with the first four months to the end of April being higher by…

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Today’s news in brief – 16/04/24

Hostmore will be acquiring TGI Fridays’ US brand for £177m. The proposed transaction would result in existing Hostmore shareholders holding a 36% stake in the enlarged business upon completion, with TGI Fridays’ shareholdings having a 64% stake. Once the acquisition is finalised, the group is expected to be renamed ‘TGI…

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