Cheadle's branch of TGI Fridays is set to be sold.

It comes as Hostmore, the owner of the restaurant chain, collapsed into administration after plans for a buyout fell through.

It means that 87 restaurants - including in Cheadle - are being put up for sale in an effort to keep TGI Fridays present in the UK.

The branches will remain open during the search for buyers, but it is unclear whether or not the restaurants will find a buyer, MEN reports.

A Hostmore spokesperson said: "The board inherited a very challenging set of circumstances, but a focus on reducing costs, revising the group's capital allocation policy and implementing both board and senior management changes, meant that the group was able to reduce annualised expenditures by £12million, significantly reduce losses from unprofitable stores, and operate the group's stores at a best in class efficiency level for the sector, all while improving guest scores to our highest levels on record.

"Unfortunately, all of the board's efforts to implement a lasting solution to support the long-term financial future of the business came against a highly challenging trading and macroeconomic backdrop, and efforts to create value for shareholders through the proposed acquisition of TGI Fridays, while well-advanced, encountered adverse events outside of the board's control.

"The board is immensely proud of all Hostmore colleagues, both in store and in the support centre, who worked tirelessly to execute a turnaround programme over the past 18 months and to deliver a successful result on the proposed acquisition of TGI Fridays, Inc."

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