A rescue deal has been struck to save several TGI Fridays restaurants – including its last remaining Kent branch.
The popular US restaurant chain operates 89 franchised restaurants nationwide, including at Bluewater shopping centre in Greenhithe.
But its future was plunged into doubt after the parent company of the operators of the UK franchise, Hostmore, went into administration last month.
Talks have since continued between administrators and private investment companies Breal Capital and Calveton to save the chain.
It has now been announced TGI Fridays will remain on UK high streets, although almost half of its restaurants are to shut.
Joint administrators Teneo confirmed a total of 1,012 staff are to lose their jobs with the immediate closure of 35 restaurants.
For the full list of branches shutting click here.
Breal Capital and Calveton UK have acquired the remaining 51 restaurants, which will stay open – including Bluewater’s.
The move has resulted in almost 2,400 jobs being saved.
TGI Fridays’ chief executive, Julie McEwan, says: “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.”
Meanwhile, senior managing director of Teneo, Daniel Smith, insists 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 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 it had been hearing from members who had been “furiously contacting” them in response to the immediate closures.
It reported 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.
