The future of popular American-themed restaurant chain TGI Fridays in the United Kingdom has been thrown into uncertainty just weeks after a change in ownership.
Financial Advisors Appointed Amid Strategic Review
The company has confirmed the appointment of financial advisory firm Interpath to explore strategic options for the business. This move casts a shadow over the long-term prospects of the chain, which employs approximately 2,000 people across its UK sites.
This development arrives shortly after the UK arm of the business was acquired by Sugarloaf TGIF Management last month. In a statement issued to Sky News, Phil Broad, president of TGI Fridays International Franchising, sought to provide reassurance.
He stated: “The directors of TGI Fridays UK can confirm they are working closely with independent advisors to explore all available options for securing the long-term future of TGI Fridays in the UK.”
A Brand's Rollercoaster Journey
This period of instability follows what was recently hailed as a brand “comeback.” Only months ago, the chain celebrated a rescue deal, a new menu, and plans to revitalise its restaurants after emerging from administration in October 2024.
At that time, Chief Executive Julie McEwan had spoken enthusiastically about a “full brand reset,” highlighting investments in the team and a rebuilt offer focused on quality and value. The contrast between that optimism and the current situation underscores the volatile nature of the UK's casual dining sector.
What Comes Next for the Family Favourite?
Despite the challenging circumstances, the company's leadership emphasises that its immediate priorities remain intact. Phil Broad added: “Since assuming control last month, our priority has been to protect jobs, support our employees, and continue to deliver the welcoming, celebratory experience guests expect from TGI Fridays.”
He described the ongoing discussions as “progressing constructively,” promising further updates when appropriate. The outcome of this strategic review will be closely watched by the 2,000 employees and countless customers of the iconic brand, which first opened in New York in 1965.
