TGI Fridays, a well-known restaurant chain with 49 locations in the UK, is facing the possibility of entering administration, jeopardizing jobs just before the holiday season. The Liberty Bar and Restaurant Group, owners of the brand, have filed a notice to appoint administrators for the second time within a short period, which was submitted on December 19 to provide the company with a temporary pause on debt collection and time to devise a recovery strategy.
Phil Broad, the president of TGI Fridays’ international franchising division, has confirmed the filing of the notice of intent to appoint administrators, stating that this move by the new owners, who took over last month, aims to secure and enhance the long-term viability of TGI Fridays in the UK. The primary focus is on retaining the employment of the company’s 2,000 staff members, as reported by the Express. Additionally, all TGI Fridays restaurants will continue operations during the Christmas period.
The restaurant chain made its debut in the UK in 1986 following a successful launch in the US. Earlier in September, the company had also gone into administration and put 87 of its restaurants up for sale.