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Layoffs: More than 1,000 staff have lost their jobs at TGI Fridays after a rescue deal collapsed
More than 1,000 staff lost their jobs at TGI Fridays after a rescue deal collapsed.
Breal Capital and Calveton UK have bought 51 restaurants after the group’s previous operator fell into administration.
It means almost 2,400 jobs have been saved across the American-themed restaurant and cocktail bar.
But joint administrators at advisory firm Teneo said 35 restaurants were not included in the sale and were closed immediately, leading to 1,012 redundancies.
Julie McEwan, chief executive of TGI Fridays UK, said: “The news marks the start of a positive future for our business after a very challenging period for the casual dining sector as a whole.
‘We are devastated for our colleagues who will be leaving TGI and thank them for their loyalty and contribution during their time with us. “We are doing everything we can to retain our team and support those affected.”
TGI Fridays’ 86 restaurants in the UK were operated by London-listed Hostmore before it collapsed into administration last month.
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