D&D London owners complete TGIF acquisition
Breal Capital and Calveton are also hopeful that they may be able to secure further locations following discussions with the landlords
TGI Fridays has been acquired by D&D London owners Breal Capital and Calveton UK through its acquisition vehicle Liberty Bar and Restaurant Group Limited for an undisclosed sum.
The sale, which is based on 51 restaurants, should secure the future of more than 2,000 jobs across those restaurants.
Breal Capital and Calveton are also hopeful that they may be able to secure further locations following discussions with the landlords.
They already have a “wealth of experience” in the sector including D&D London, Byron Burgers and Vinoteca.
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.”
McEwan added: “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.”
A spokesperson for the new owners concluded: “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.”
Full list of TGI Fridays UK restaurants remaining open:
Bluewater
Trafford Centre
Meadowhall
Aberdeen Union Square
Metrocentre
Basildon
Glasgow Fort
Milton Keynes Stadium
Braehead
Wembley
Birmingham NEC
Glasgow
Junction 27
Castleford
Lakeside Quay
Teesside
Bolton
Norwich
St Davids
Doncaster
Lakeside
Fareham
Liverpool One
Stevenage
White Rose
Cribbs Causeway
Rushden Lakes
Stoke on Trent
Southampton
Silverburn
Watford Central
Aberdeen Beach
Braintree
Bournemouth
Stratford
High Wycombe
Cheshire Oaks
Walsall
Milton Keynes
Sheffield
Nottingham
Edinburgh
Coventry
Ashton-Under-Lyne
Telford
The O2
Staines
Crawley
Reading
Cheadle
Leicester Square