TGI Fridays has closed down 35 of its restaurants – including one in Solihull – following a rescue deal.
The American cocktail bar and restaurant has been acquired by Breal Capital and Calveton UK and will see the company take on 51 sites, including the NEC one.
However, the deal saw the site in Touchwood and 34 others close their doors with immediate effect on Monday (October 7) with reports of 1,000 jobs at risk.
Julie McEwan, chief executive 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 following a very challenging period for the casual dining sector as a whole. We look to the future with confidence that the TGI Fridays brand will continue to attract loyal and new guests.
“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.
“We would like to thank our team and our loyal guests for supporting us during this transition. We are proud to serve millions of customers across the UK and are committed to continuing to evolve our proposition and to give our guests a great value for money experience that keeps them coming back to enjoy TGI Fridays time and again.”
Breal and Calveton already have a wealth of experience in the sector including D&D London, Byron Burgers and Vinoteca.
A spokesperson for the new owners said: “We are delighted to be working with such an enthusiastic and committed Management Team to both modernise the business and capitalise on the heritage of this iconic Brand.”
The first TGI Fridays opened on the corner of 63rd+1st in New York in 1965 with the promise of ‘In here, it’s always Friday’.
