Thursdays (UK) Limited - Administration

Thursdays (UK) Limited, the company behind the nationwide restaurant chain TGI Fridays, entered administration on 7 October, citing a challenging period for the casual dining sector as a whole.

Immediately following their appointment as joint administrators, Daniel Smith and Julian Heathcote of Teneo completed a sale of 51 sites, including the transfer of 2,389 employees, to Breal Capital and Calveton Group, safeguarding 2,000 jobs. 35 restaurants were excluded from the sale and have been closed, resulting in 1,012 redundancies.

Freeths advised both buyers on the deal with a team led by John Jeffreys.

Various HSBC entities and Propinvest Gate Limited have registered charges against the company.