The UK operator of TGI Fridays has gone into administration, putting 4,500 jobs at risk. Hostmore, the hospitality company that owns the chain, is struggling with debt and heavy losses. They hope to sell 87 restaurants by the end of September to keep the brand running and secure jobs. Despite the financial troubles, all existing TGI Fridays locations remain open. The chain has faced challenges due to changing customer preferences and the impact of online shopping and the Covid pandemic on high street businesses.
BBQ: How might the administration of Hostmore and the potential sale of TGI Fridays’ restaurants impact the company’s stakeholders, including employees, customers, and creditors?
