Two popular Liverpool restaurants up for sale after chain’s owner falls into administration

Hostmore, the owner of the TGI Friday's restaurant chain, is selling off all 87 of its UK locations after falling into administration. The company is in the process of trying to sell the diners to new owners, which it hopes to complete by the end of September. This would keep the TGI Fridays brand alive on British high streets and could save around 4,500 jobs.

Currently the American-style diner has two locations in Liverpool - at Liverpool One and at the New Mersey Shopping Park in Speke. Despite the situation, TGI Friday’s UK restaurants continue to stay open as normal, for the time being.

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. 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.

The company 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.