Sugarloaf TGIF Operations has acquired the business and assets of Liberty Bar and Restaurant Group, the operator of TGI Fridays UK restaurants, via a pre-packaged transaction.
The deal allows 33 restaurants across the UK to continue operating under new ownership.
However, 16 sites were not included in the transaction and have ceased trading with immediate effect, leading to 456 job losses.
The pre-pack deal preserves the jobs of 1,384 employees, who have moved over to Sugarloaf TGIF Operations.
Ryan Grant and Will Wright of Interpath Advisory were appointed joint administrators to Liberty Bar and Restaurant Group on 13 January.
The joint administrators immediately sold the company’s business and assets to Sugarloaf TGIF Operations, a Sugarloaf-owned entity responsible for managing the global TGI Fridays brand.
The casual dining group submitted its third notice of intention to appoint administrators just last week.
Phil Broad, global president, TGI Fridays, said: “We have been working closely to explore all available options for securing the long-term future of TGI Fridays in the UK, and believe that this is the best outcome for the business, preserves jobs, and offers a strong platform for success and growth.
“TGI Fridays has a long history in the UK, and I believe that the future of the brand is in strong hands – focused on reinvigorating the brand while continuing to deliver the bold flavours, welcoming atmosphere, and high-energy dining experience that define TGI Fridays.”
Grant, managing director at Interpath and joint administrator, added: “We are pleased to have been able to secure this transaction which will see this well-known brand continue to trade across the UK. While these have been difficult times for hospitality operators generally, this marks a pivotal step in TGI Fridays’ wider turnaround plan, putting in place stable foundations upon which it can begin to move forward.”
In October, Sugarloaf acquired TGI Fridays from investors Calveton UK and Breal Capital for an undisclosed sum, just a year after the brand was previously bought out of administration for £9.55 million.
TGI Fridays UK relaunched on 4 July last year with new branding and menu offerings.
Former owners Calveton and Breal said the chain saw like-for-like sales growth in 2025 and festive bookings rose 25% on the year.
Analysts warn that TGI Fridays’ brand shows “overwhelming weakness” and more closures are likely this year.
Here is the full list of TGI Fridays restaurants that will be closing:
. Aberdeen Beach
. Ashton Under Lyne
. Bournemouth
. Braintree
. Coventry
. Crawley
. Doncaster
. Edinburgh
. Nottingham
. Reading
. Sheffield
. Staines
. Stevenage
. Stratford
. Telford
. Walsall
