TGI Fridays to sell all branches as company on 'brink of collapse' - see local restaurants
Plans to sell every branch of TGI Fridays in the country are under way after a major deal between bosses was said to have fallen through.
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Hostmore, who owns the American-themed restaurants, is said to be 'on the brink of collapse' by investment directors after an expansion plan fell through.
The hospitality group is now looking to sell all 85 branches in the country as fully franchised businesses – meaning whoever buys a branch will have full control over it. They might be kept similar to the diner-style fast food restaurant or be converted into something else completely.
The move, which is expected to be complete by the end of the month, means shareholders may be left with nothing.
TGI Fridays –which stands for Thank God It's Friday – was brought to the UK forty years ago. It was founded in 1965 in New York by Alan Stillman and a group of friends who wanted to create casual dining with a 'vibrant atmosphere'.
Here are all of the sites nearby that will be closing down.
TGI Fridays Waterfront, Walsall
TGI Fridays Hagley Road, Birmingham
TGI Fridays Newhall Walk, Sutton Coldfield
TGI Fridays Resorts World, Birmingham
TGI Fridays Southwater Square, Telford
TGI Fridays Hanley, Stoke-on-Trent
