TGI Fridays to close 16 restaurants in pre-pack deal

The business and assets of Liberty Bar and Restaurant Group, the company which manages the operations of TGI Fridays UK restaurants, have been acquired by Sugarloaf TGIF Operations in a pre-pack transaction.

 

The deal sees the transfer and continuing operation of 33 restaurants across the UK.

 

However, 16 sites were not included as part of the transaction and have closed with immediate effect, leading to 456 redundancies.

 

The pre-pack does safeguard the jobs of 1,384 employees, who have been transferred to Sugarloaf TGIF Operations.

 

It comes after Interpath Advisory’s Ryan Grant and Will Wright were appointed joint administrators to Liberty Bar and Restaurant Group today (13 January).

 

They immediately sold the business and assets of the company to Sugarloaf TGIF Operations, a company owned by Sugarloaf, which manages the worldwide TGI Fridays brand.

 

Just last week, the casual dining chain filed a third notice of intention to appoint administrators.

 

Phil Broad, global president, TGI Fridays, said: “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.

 

“TGI Fridays has a long history in the UK, and I believe that the future of the brand is in strong hands – focused on reinvigorating the brand while continuing to deliver the bold flavours, welcoming atmosphere, and high-energy dining experience that define TGI Fridays.”

 

Grant, managing director at Interpath and joint administrator, added: “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 Fridays’ wider turnaround plan, putting in place stable foundations upon which it can begin to move forward.”

 

Sugarloaf acquired TGI Fridays from investors Calveton UK and Breal Capital for an undisclosed sum in October, only a year after the brand was previously bought out of administration for £9.55m.

 

TGI Fridays UK had relaunched on 4 July last year with a refreshed menu and branding.

 

Previous owners Calveton and Breal said the chain had seen positive like-for-like sales growth in 2025 and that festive bookings were 25% up on 2025.

 

Analysts recently warned TGI Fridays has an “overwhelming weakness” in its brand and will likely close further restaurants this year.

 

TGI Fridays site closures

The full list of TGI Fridays locations which will close is:

 

Aberdeen Beach

Ashton Under Lyne

Bournemouth

Braintree

Coventry

Crawley

Doncaster

Edinburgh

Nottingham

Reading

Sheffield

Staines

Stevenage

Stratford

Telford

Walsall