TGI Fridays rescue deal saves over 2,000 UK jobs

Published On Oct 7, 2024, 9:49 AM

TGI Fridays has secured a rescue deal that will save nearly 2,400 jobs in the UK after falling into administration. Breal Capital and Calveton are purchasing the chain, but over 1,000 employees will still lose their jobs as only 51 out of 87 restaurants will remain operational.

Read full article

Stock Forecasts

EATView EAT chart on TradingView

Positive

The rescue deal may stabilize TGI Fridays' operations in the UK, potentially improving its performance and market outlook. If the remaining restaurants are profitable, it's feasible for the business to regain some momentum as consumers return to dining out post-pandemic.

Related News

TGI Fridays rescue deal saves over 2,000 UK jobs

Oct 7, 2024, 9:49 AM

Despite the deal, more 1,000 staff will be made redundant, with more than 30 restaurants closing.

EAT