TGI Fridays UK restructuring saves 33 sites in pre-pack administration

A pre-pack administration has preserved the majority of TGI Fridays restaurants across the UK, following the sale of the business and assets of Liberty Bar and Restaurant Group Limited to Sugarloaf TGIF Operations Limited, a company owned by Sugarloaf, the global manager and custodian of the TGI Fridays brand.

Ryan Grant and Will Wright of Interpath Advisory were appointed joint administrators to Liberty Bar and Restaurant Group Limited on 13 January 2026. Immediately following their appointment, the administrators completed a pre-packaged sale of the company’s viable business and assets to Sugarloaf TGIF Operations Limited, enabling the continued operation of 33 restaurants across the UK.

The transaction safeguards 1,384 jobs, with employees transferring to the purchaser under the sale. Unfortunately, 16 sites were excluded from the transaction and closed with immediate effect, resulting in 456 redundancies. The joint administrators said they are prioritising support for affected employees.

The pre-pack sale represents the latest step in efforts to stabilise the UK operations of the casual dining chain following sustained pressure across the hospitality sector, including rising operating costs, reduced consumer discretionary spending, and challenging trading conditions. Administrators described the transaction as providing a stable platform from which the business can pursue a broader turnaround strategy.

Phil Broad, global president of TGI Fridays, said the transaction followed extensive work to secure the long-term future of the brand in the UK and described the deal as the best available outcome for the business, preserving jobs and creating a foundation for future growth.

Ryan Grant, managing director at Interpath and joint administrator, said the transaction would allow the well-known brand to continue trading across the UK, noting that while hospitality operators have faced difficult conditions, the deal marked a pivotal step in TGI Fridays’ wider turnaround plan.

Legal advisers to Sugarloaf on the transaction included Haynes Boone, which previously advised Sugarloaf on its acquisition of the UK operations of TGI Fridays in 2025 and acted on the immediate acquisition of the viable business and assets out of administration.