TGI Fridays Expected To Do A Pre Pack Administration

Update 5th January 2026

It is understood that TGI Fridays is likely to be sold next week in a Pre Pack Administration.  It is reported that about 15-20 stores may close.  This will mean the majority of the estate will disappear.  It is expected that there will be hundreds of redundancies amongst the 2000 staff.

Sugarloaf acquired the chain from Breal Capital and Calveton UK in October of this year and immediately sought to sell it. However, it has been reported that the company filed a notice of intention to appoint administrators on the 5th of December.

Could it be that TGIs could go into a CVA?

The CVA would only really work if the main problem was high rents or just certain outlets needed to be closed down.  The money that it owes its lender is no doubt secured so they have the power to call in administrators at any time.

Without knowing more about its exact financial position it is hard to say.

If the company does go into administration it is likely that a number of the restaurants, which are making money, will be snapped up by other restaurant groups and may continue to trade under the TGI brand.  If not then the owners will take advantage of their prime locations.