The future of TGI Fridays restaurants in Scotland hangs in the balance as the UK operator of the American-themed chain has entered administration.
Hostmore, the company that owns the TGI Fridays franchise in the UK, has appointed joint administrators from Teneo as it scrambles to sell its chain of 87 restaurants across the country.
The administration of Hostmore affects not only the Scottish outlets but all 87 TGI Fridays restaurants across the UK. The company is urgently seeking buyers for these locations, hoping to complete the sale process by the end of September.
The collapse of Hostmore comes on the heels of a failed attempt to acquire the US-based TGI Fridays Inc. for £177 million.
This deal, which would have created a larger firm listed in London, fell through earlier this month due to a management change that would have prevented the collection of royalties from the TGI Fridays brand.
Scottish Locations Affected
Eight TGI Fridays locations in Scotland are now up for sale as part of the administration process. These include:
- Aberdeen Beach
- Aberdeen Union Square
- Braehead
- Edinburgh
- Fort Kinnaird
- Glasgow Buchanan Street
- Glasgow Fort
- Silverburn
While the administration process is underway, all TGI Fridays restaurants in the UK, including those in Scotland, remain open and operating as usual. However, the future of these locations remains uncertain.
The administration of Hostmore puts an estimated 3,000 jobs at risk across the UK. The outcome for employees, including those in Scottish locations, will depend on the success of the sale process and the decisions made by potential new owners.
As the administration process unfolds, the fate of TGI Fridays restaurants in Scotland and across the UK remains uncertain. The coming weeks will be crucial in determining whether the iconic American-themed chain will continue to have a presence on British high streets or if this marks the end of an era for TGI Fridays in the UK.
