TGI Fridays’ UK operations up for sale a month after acquisition
TGI Fridays’ UK business has gone up for sale just one month after being acquired by a company ran by the chain’s former chief executive.
The restaurant chain has appointed advisers from Interpath to explore options for the business, Sky News has reported.
Interpath has begun to contact potential investors over the last few days about a potential deal.
TGI Fridays UK business – which operates 49 restaurants, was acquired last month by Sugarloaf TGI Management, which is headed up by the chain’s former boss Ray Blanchette.
Sky News said the reason for the rapid decision to market the business was unclear on Thursday.
In a statement, Phil Broad, president of TGI Fridays International Franchising, said: “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.
“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.
“These discussions are progressing constructively, and we will provide further updates when appropriate.”
TGI’s British chain was sold just over a year ago to investment firms Calveton UK and Breal Capital, which are said to have stabilised the business’s performance.