In a dramatic pre-Christmas development, the company behind the popular TGI Fridays chain in the UK has taken a critical step towards administration, leaving staff and customers in a state of uncertainty.
Second Administration Filing in Two Weeks
The Liberty Bar and Restaurant Group, which operates the UK arm of the American-style dining brand, lodged a notice of intention to appoint administrators on December 19. This marks the second such filing this month, following an initial notice submitted just two weeks earlier.
The move is part of a legal process designed to protect the business from creditors while it seeks a lifeline. Filing the notice triggers a moratorium on debt collection and grants the company a further 10 days to secure a rescue package or new investment.
Operations Continue Amid Rescue Bid
Despite the severe financial pressures, the group's bosses have insisted that all 49 TGI Fridays restaurants across the UK will continue to trade as usual throughout the festive period. The chain employs more than 2,000 people, whose futures now hang in the balance.
The company is working with advisors from Interpath to assess all potential options to safeguard the business's long-term future. The primary goal is to use this protected period to finalise a deal that could save the well-known family dining brand.
A Troubled History for the UK Chain
TGI Fridays, founded in New York in 1965, has been a fixture on the UK high street since 1986. Its presence here has faced significant challenges in recent years.
The brand's previous UK operator also fell into administration. Its remaining restaurants were subsequently acquired by private equity firms Breal Capital and Calveton UK in 2023, forming the current Liberty Bar and Restaurant Group.
The latest administration filing casts a shadow over one of the UK's most recognisable casual dining names, highlighting the ongoing struggles within the sector, particularly during what is typically a crucial trading period.
