TGI Fridays Cheadle to remain open as rescue deal agreed

By Alasdair Perry 8th Oct 2024

The branch of TGI Fridays at Cheadle Royal has been 'saved' as part of a rescue deal preserving 51 TGI Fridays restaurants (Image - Google Maps)
The branch of TGI Fridays at Cheadle Royal has been 'saved' as part of a rescue deal preserving 51 TGI Fridays restaurants (Image - Google Maps)

Cheadle's branch of TGI Fridays is set to remain open.

It comes as part of a rescue deal, in which the chain was sold to Breal Capital and Calveton. The deal has saved 51 restaurants, including Cheadle.

However, 35 other TGI Fridays sites across the UK will close with immediate effect. This includes the Prestwich, Sale, and Royal Exchange branches elsewhere in Manchester.

It comes after Hostmore, the owner of the restaurant chain, filed for administration in September.

Julie McEwan, chief executive of TGI Fridays UK, said: "TGI Fridays is a much-loved brand with a rich heritage.

The news today marks the start of a positive future for our business following a very challenging period for the casual dining sector as a whole.

"We are devastated for our colleagues who will be leaving TGIs and thank them for their loyalty and contribution during their time with us.

"We are doing everything possible to retain our team and support those impacted."

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