TGI Fridays is closing even more locations across the UK following the previous batch of restaurant shutdowns – and this time Nottingham is on the chopping block.
The iconic US chain – which has been open in the UK since 1987 – has entered pre-pack administration, with the latest restructuring saving 33 branches but leading to the abrupt closure of 16 others.
It has been revealed that 456 will lose their jobs as a result of the latest restructure.
The Nottingham site, based at the city centre Cornerhouse complex, has closed with immediate effect and joint administrators say assisting the impacted workers is now ‘their primary concern’.
The remaining assets and 1,384 employees have been transferred to the chain’s new owners Sugarloaf TGIF Operations Limited, a specific entity owned by Sugarloaf, which is the existing manager and custodian of the global TGI Fridays brand.
The sale was structured as a “pre-pack” administration, a process that allows a company to sell its assets to a buyer without passing on historic debts.
