TGI Fridays will remain on UK high streets following a rescue deal for the chain, but more than 1,000 staff have lost their jobs with the immediate closure of 35 restaurants.
Breal Capital and Calveton UK have acquired 51 restaurants after the group’s previous operator fell into administration. It means that nearly 2,400 jobs have been saved across the US-themed restaurant and cocktail bar. But joint administrators at Teneo said 35 restaurants were not included in the sale and have been closed immediately, resulting in 1,012 redundancies.
Breal Capital and Calveton UK have acquired 51 restaurants after the group’s previous operator fell into administration. It means that nearly 2,400 jobs have been saved across the US-themed restaurant and cocktail bar. But joint administrators at Teneo said 35 restaurants were not included in the sale and have been closed immediately, resulting in 1,012 redundancies.
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NewsTranscript
00:00Hello, my name is Greg Wright. I'm the Deputy Business Editor of the Yorkshire Post and here are your headlines for today.
00:09TGI Fridays will remain on UK high streets following a rescue deal for the chain,
00:15but more than 1,000 staff have lost their jobs with the immediate closure of 35 restaurants.
00:22Bureal Capital and Calvert in the UK have acquired 51 restaurants after the group's previous operator fell into administration.
00:31It means that nearly 2,400 jobs have been saved across US-themed restaurant and cocktail bar.
00:39But the joint administrator at Tenio said 35 restaurants were not included in the sale and have been closed immediately, resulting in 1,012 redundancies.
00:50My name is Greg Wright. I'm the Deputy Business Editor of the Yorkshire Post.