Popular casual dining chain TGI Fridays has announced the immediate closure of 35 of its restaurants in the UK – with three London locations to be affected as well as a further three just outside the city. The chain is to cut around 1,000 jobs after its owner went into administration last month.
While a rescue deal has managed to save 51 of the stores, more than a third of TGI Fridays’ 86 UK restaurants have closed. It is estimated that approximately 2,400 TGI Fridays employees will retain their jobs as part of this agreement with Breal Capital and Calveton.
The restaurants to close in and around London include Croydon, Enfield and Romford in the city itself, plus sites in Bracknell in Berkshire, Watford North in Hertfordshire and Chelmsford in Essex. However, many venues in London will be open, including Stratford and The O2 in Greenwich.
Unions have said the decision to close the restaurants is a “disgrace”. Bryan Simpson, Unite Union’s lead organizer for hospitality, said: “Closing venues and locking people out of their workplace without warning is a moral scandal.”
However, Daniel Smith, senior managing director of Teneo, which has been appointed joint administrator of the business, has said the rescue deal agreed with Breal Capital and Calveton UK would keep the brand alive in the UK.
“The casual dining sector has been adversely affected by well-publicized pressures on discretionary spending,” says Smith. “This transaction with Breal Capital and Calveton UK preserves a significant number of jobs and will hopefully provide the business with the stability and support it needs to recover and grow. We thank all employees and other key stakeholders for their support at this difficult time .”
Julie McEwan, CEO of TGI Fridays UK, said: “TGI Fridays is a much-loved brand with a rich heritage. The news today marks the start of a positive future for our business after a very challenging period for the casual dining sector as a whole. We see on the future with confidence that the TGI Fridays brand will continue to attract loyal and new guests.”
TGI Fridays sites in and around London are closing down
Croydon (Purley Way)
Enfield (Southbury Leisure Centre)
Romford (The Brewery Shopping Centre)
Watford North (St Albans Road)
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