The company behind TGI Fridays has filed to appoint administrators for the second time this month. Liberty Bar and Restaurant Group, which runs TGI Fridays’ UK operations, filed a notice of its intent to appoint administrators on December 19.
It comes two weeks after the business had filed a previous administration notice.
The move comes as the family dining brand, which has 49 sites across the UK, seeks to give itself more time to secure a rescue deal and assess potential options to preserve its long-term future. Filing the notice is part of a legal process which will halt debt collection and provide the company with another 10 days to find a new buyer or investment.
It is understood that all the group’s UK restaurants will continue to operate as normal over the Christmas period, despite the process.
The company, which has more than 2,000 staff, is working with experts from advisory firm Interpath.
TGI Fridays first opened in New York in 1965 with a party-led theme and continues to operate a string of restaurants in the US.
After its previous UK operator fell into administration, its remaining restaurants were acquired by private equity firms Breal Capital and Calveton UK last year.
