Hostmore - Administration

Hostmore, the UK operator of TGI Fridays, entered administration on 18 September, making it the latest victim in a long list of restaurant casualties.

The chain has struggled with changing consumer preferences for healthier foods and less discretionary spending.

87 of the chain’s restaurants had already been put up for sale prior to the appointment of Julian Heathcote and Daniel Smith of Teneo as joint administrators.

The sites are continuing to be marketed for sale in the administration, with approximately 4,500 jobs on the line.

The administration only impacts the UK arm of the business.