TGI Fridays: owner Hostmore falls into administration, are UK locations near me closing after sale - full list

• The UK owner of TGI Fridays, is selling all 87 locations and transitioning to a fully franchise-operated model
• Hostmore abandoned a £177 million acquisition plan for a US restaurant chain earlier this month, leading to a 90% drop in its share price
• It is expected to be wound up and delisted from the London Stock Exchange by the end of the month
• The sale of TGI Fridays UK outlets might not cover its debts, and it remains unclear if all locations will stay open or be taken over by other chains
• Despite the upheaval, TGI Fridays’ restaurants continue to operate normally

Every single one of a major restaurant chain’s UK locations are in the process of being sold to new owners as its UK owner, Hostmore has fallen into administration.

The company is hoping to shift the brand to a fully franchise-operated business, before it is expected to be wound down, potentially leaving its shareholders with nothing.

Hostmore announced earlier this month that it had abandoned plans to acquire the US restaurant chain for £177 million. The news caused shares in the London-listed company tank by more than 90%.

Russ Mould, an investment director at AJ Bell, said it is “effectively game over for Hostmore as a listed business”, adding: “The company’s share price crashed 90% after an expansion plan went up in smoke, implying there is little to no value left in the listed business for shareholders.”

But what exactly does it mean for TGI Fridays’ locations? Will they remain open under new owners, or new names? Or will they close for good? Here is everything you need to know.

Which locations are affected?

TGI Fridays was founded in 1965 in New York City by Alan Stillman and a group of friends who wanted to create a casual dining experience with a vibrant atmosphere. It made its debut in the UK in 1994.

The chain aims to bring a distinctive American dining style, characterised by a lively atmosphere, generous portions, and a diverse menu featuring American classics, which appeal to British tastes.

All of the brand’s 87 UK outlets are in the process of being sold, affecting the following locations:

• Aberdeen Beach
• Aberdeen Union Square
• Ashton-under-Lyne
• Barnsley
• Basildon
• Birminghm
• Birmingham NEC
• Bluewater
• Bolton
• Bournemouth
• Bracknell
• Braehead
• Braintree
• Brighton Marina
• Cabot Circus
• Cardiff Newport Road
• Cardiff St David's
• Castleford
• Cheadle
• Chelmsford
• Cheltenham
• Cheshire Oaks
• Coventry
• Crawley
• Cribbs Causeway
• Croydon
• Derby
• Doncaster
• Durham
• Edinburgh
• Enfield
• Fareham
• Fort Kinnaird
• Gateshead
• Glasgow Buchanan Street
• Glasgow Fort
• Gloucester Quays
• Halifax
• High Wycombe
• Jersey
• Lakeside Quay
• Lakeside Retail Park
• Leeds Junction 27
• Leeds Wellington Bridge Street
• Leeds White Rose
• Leicester
• Lincoln
• Liverpool One
• Liverpool Speke
• London Leicester Square
• London Stratford City
• London the O2
• Manchester Royal Exchange
• Meadowhall
• Metro Centre Gateshead
• Milton Keynes
• Milton Keynes Stadium
• Newcastle Eldon Square
• Newport Friars Walk
• Northampton
• Norwich
• Nottingham
• Prestwich
• Reading
• Romford
• Rushden Lakes
• Sale
• Sheffield
• Silverburn
• Solihull
• Southampton Retail Park
• Staines
• Stevenage
• Teesside
• Telford
• Trafford Centre
• Trinity Leeds
• Walsall
• Watford Central
• Watford North
• Wembley
• West Quay

What’s really changing?

Despite the situation, TGI Fridays’ UK restaurants, which have a New York-influenced food and cocktails menu, continue to stay open as normal.

The sale process, which is predicted to complete by the end of the month, is expected to result in Hostmore being wound up and delisted from the London Stock Exchange.

Successful sales of all 87 locations could keep the TGI Fridays brand alive on British high streets and save the jobs of approximately 4,500 staff employed across the UK.

But it remains unclear whether all restaurants can be saved or only a portion, with some possibly being taken over by other chains.

Susannah Streeter, head of money and markets at Hargreaves Lansdown, said: “Given the brand recognition, its continued operation in more than 50 other countries and the level of loyal custom, it’s unlikely to disappear from the UK scene completely.”

She suggested that a new owner could “significantly reduce the number of outlets across the UK, and focus on its more successful restaurants such as in London’s Leicester Square”.

Hostmore has also revealed it does not expect to "recover any meaningful value" from the sale, which is likely to fall short of covering its debts to creditors and banks.

What do you think about the future of TGI Fridays and Hostmore’s dramatic shift? Share your thoughts and predictions in the comments section.