According to information obtained by News, an agreement to purchase the bulk of TGI Fridays might be reached as early as Monday by Breal Capital and Calveton, which jointly run the upscale dining establishment D&D London.
As soon as the deal is finished, a statement will probably be released.
This past weekend, sources stated that a deal was anticipated to involve at least 2,000 of the chain’s over 3,000 employees and between 50 and 55 of its 87 locations.
The sources further stated that the purchasers and the company administrators were still working out the final terms.
If the agreement goes through, most TGI Fridays jobs would be saved, but about 1,000 jobs would still be lost.
The parent business, Hostmore, said last month that it was going into administration; however, Thursdays, the trade subsidiary that owns the TGI Fridays UK franchise, would not be impacted by this.
However, a notice of intention to appoint administrators was later filed by the operating business itself.
The board of Hostmore attributed the company’s demise to “a very challenging set of circumstances.”.
