TGI Fridays' UK operator has filed to appoint administrators for the second time this month, putting 49 restaurants and more than 2,000 jobs at risk just days before Christmas.
Liberty Bar and Restaurant Group filed the notice of intent on December 19, two weeks after its first filing. The legal process halts debt collection and provides the company with an additional 10 days to secure a rescue deal or find new investment.
The move leaves staff and diners in limbo during the festive season. However, company bosses insist all UK restaurants will continue operating normally throughout the Christmas period.
Rescue Deal Window
The administration notice is a legal mechanism designed to buy time for the struggling business. It prevents creditors from collecting debts while the company works with advisory firm Interpath to assess options for its long-term future.
The 10-day extension represents a critical window for Liberty Bar and Restaurant Group to find a buyer or secure investment that could preserve the chain's operations.
Previous Administration
This marks the second administration crisis for TGI Fridays' UK operations in recent years. Last year, the chain's previous UK operator fell into administration, leading private equity firms Breal Capital and Calveton UK to acquire the remaining restaurants.
TGI Fridays has operated in the UK since 1986. The brand first opened in New York in 1965 with a party-led theme and continues to run restaurants in the US.
Note: This article was created with Artificial Intelligence (AI).
