In a significant shake-up for the popular American-style restaurant chain, TGI Fridays has announced the immediate closure of three of its Welsh locations. This decision comes as part of a broader restructuring that will see 36 of the company’s UK restaurants shut down, resulting in redundancies for more than 1,000 staff members.
The Welsh branches affected are:
- Friars Walk shopping centre in Newport
- Newport Road in Cardiff
- Premier Inn in Swansea city centre
These closures are part of a rescue deal that has secured 51 of the company’s sites across the UK, as confirmed by the group’s administrators. The deal has managed to save 2,000 jobs, including those at the St David’s Shopping Centre branch in Cardiff city centre, which will remain open.
Julie McEwan, chief executive of TGI Fridays, expressed her sentiments about the situation: “We are devastated for our colleagues who will be leaving TGIs and thank them for their loyalty and contribution during their time with us. We are doing everything possible to retain our team and support those impacted.”
She added, “TGI Fridays is a much-loved brand with a rich heritage. The news today marks the start of a positive future for our business following a very challenging period for the casual dining sector as a whole. We look to the future with confidence that the TGI Fridays brand will continue to attract loyal and new guests.”
Daniel Smith, senior managing director of Teneo, commented on the broader context: “The casual dining sector has been adversely impacted by well-publicised pressures on discretionary spend. This transaction with Breal Capital and Calveton UK preserves a significant proportion of jobs and will hopefully provide the business with the stability and support it needs to recover and grow.”
