TGI Fridays

TGI Fridays closes more U.S. restaurants as troubles continue

By Joe Guszkowski on Oct. 11, 2024

The casual-dining chain has shuttered at least a dozen locations over the past month after closing 36 earlier this year.

Financing

TGI Fridays' UK franchisee closes some restaurants, sells others

By Joe Guszkowski on Oct. 07, 2024

Thirty-six of the casual-dining chain’s 87 locations were shuttered and the rest were sold to a pair of private-equity firms through the U.K. equivalent of bankruptcy.

Financing

Problems worsen for TGI Fridays' U.K. operator

By Jonathan Maze on Sep. 19, 2024

Hostmore, whose plans to buy the brand fell through after TGI Fridays lost control of most of its assets, said it plans to seek the U.K. equivalent of bankruptcy.

Premium

Financing

TGI Fridays' would-have-been buyer gets a harsh lesson

By Jonathan Maze on Sep. 09, 2024

The Bottom Line: Hostmore, the U.K. franchisee that has backed off its purchase of the casual-dining chain, cannot sell its restaurants for their debt. Welcome to the modern market for restaurant mergers and acquisitions.

Financing

Hostmore calls off its purchase of TGI Fridays

By Jonathan Maze on Sep. 09, 2024

The U.K.-based operator backed off after the casual-dining chain lost control of its assets. The news sent Hostmore's shares down 91%.

Financing

TGI Fridays loses control of most of its assets

By Jonathan Maze on Sep. 06, 2024

A consulting firm will take over many of the casual-dining chain's management functions after a trustee on its bonds declared a “manager termination event.”

Financing

TGI Fridays' acquisition by Hostmore is suddenly in question

By Joe Guszkowski on Aug. 08, 2024

U.K.-based Hostmore said this week that the deal has been delayed as the two sides work to sell their corporate TGI Fridays and go fully franchised.

Financing

A Brazilian TGI Fridays operator declares bankruptcy

By Jonathan Maze on Jun. 14, 2024

SouthRock Capital, which had also operated Starbucks and Subway units, filed for Chapter 15 bankruptcy in Texas to protect its rights to the casual-dining restaurant chain.

Operations