The United Kingdom division of casual-dining chain TGI Fridays is saved for now after private equity firms, News Today Breal Capital and News Today Calveton U.K., have jointly acquired 51 out of the 87 TGI Fridays stores put up for sale by former U.K. TGI Fridays master franchisee, Hostmore PLC.
According to The Independent, News Today although nearly 2,400 jobs were saved across the remaining 51 U.K. locations of the American chain, the remaining 36 stores were shuttered immediately, News Today leaving 1,012 former TGI Fridays employees now out of work.
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