Overview

• Hostmore, the UK operator of TGI Fridays, has entered administration, putting 4,500 jobs at risk.
• The company is attempting to sell its 87 UK restaurants to new owners to keep the brand alive.
• Hostmore's efforts to buy the US parent company for £177 million fell through, exacerbating financial woes.
• The firm has suspended trading of its shares, which have plummeted by over 90%, and will be delisted.
• The administration highlights broader challenges facing UK casual dining chains and high streets, including reduced footfall and the financial impact of the COVID-19 pandemic.