TGI Fridays Nears Deal to Save Over 2,000 UK Jobs

Breal Capital and Calveton are set to acquire a majority of the chain's UK locations, securing the future of many employees.

Administrators are finalizing a sale that includes up to 55 of TGI Fridays' 87 UK restaurants.
The deal could protect more than 2,000 jobs, though around 1,000 positions remain at risk.
Hostmore, the parent company, had debts of £35 million and entered administration last month.
Breal Capital and Calveton's acquisition will include existing leases and the TGI Fridays brand rights in the UK.
The potential rescue comes after Hostmore's failed expansion and subsequent delisting from the stock exchange.