TGI Fridays is reportedly preparing a pre-pack administration plan to streamline its operations, according to Sky News.
The deal could be finalised this week, with plans to close between 15 and 20 of the chain’s 49 restaurants.
This could result in hundreds of job losses among the chain’s nearly 2,000 employees.
A TGI Fridays spokesperson said to Sky News: “TGI Fridays UK is still assessing all options for the future of the business.
“No decisions have been made yet and locations continue to operate as usual.'
In December, the chain submitted two notices of intent to appoint administrators within a span of two weeks.
The second notice, filed on 19 December through law firm Reed Smith, followed an identical filing on 8 December.
In both cases, the administration filings were made by Liberty Bar and Restaurant Group, the entity operated by Sugarloaf, the manager of the global TGI Fridays brand. Sugarloaf acquired TGI Fridays from investors Calveton UK and Breal Capital for an undisclosed amount in October—just a year after the brand was previously bought out of administration for £9.55 million.
Phil Broad, president of TGI Fridays International Franchising, had previously assured that all locations would remain open over the Christmas period.
At the time of the 8 December filing, he stated: “The directors of TGI Fridays UK can confirm that a notice of intent to appoint administrators was filed with the court. This step brings the new owners, who assumed control last month, closer to securing and strengthening the long-term future of TGI Fridays in the UK.
“The priority is to protect TGI Fridays employees and its restaurants, and we want to express gratitude to all stakeholders for their patience during this process.”
Last month, Sugarloaf appointed advisory firm Interpath to explore options for the business.
Sugarloaf is led by Ray Blanchette, who managed TGI Fridays for five years until 2023 and later took over the remaining US locations after the brand filed for bankruptcy protection in 2024.
TGI Fridays UK relaunched on 4 July with a refreshed menu and updated branding. Previous owners Calveton and Breal reported positive like-for-like sales growth in 2025, with festive bookings up 25% compared to the previous year.
