The United Kingdom division of casual-dining chain TGI Fridays is saved for now after private equity firms, Breal Capital and News Today Calveton U.K., News Today have jointly acquired 51 out of the 87 TGI Fridays stores put up for sale by former U.K. TGI Fridays master franchisee, News Today Hostmore PLC.
According to The Independent, although nearly 2,400 jobs were saved across the remaining 51 U.K. locations of the American chain, the remaining 36 stores were shuttered immediately, leaving 1,012 former TGI Fridays employees now out of work.
Related: TGI Fridays’ U.