Owner of TGI Fridays UK considers sale

Fri, 02 Feb 2018 | BUSINESS SALE

The owners of the UK division of US-inspired casual dining chain TGI Fridays is sounding out a possible sale, in the wake of a steep downturn affecting much of the sector.

Electra Private Equity, which acquired TGI Friday’s UK arm in 2014, is reportedly speaking to financial advisors to fully consider future options for its ownership of the restaurant chain.

Though it is believed that a full sale is the preferred option, Electra is also said to be looking at acquiring rival chains that have also been affected by financial troubles.

The news comes as many of the UK’s most familiar restaurant chains hit financial difficulty, amid higher labour, property and commodity costs and slashed profits.

Earlier this month Byron announced it would be considering a wide-ranging financial restructuring – pending a creditor vote this week – while in the past 12 months the Handmade Burger Co, The Restaurant Group and Prezzo have all sought outside advice regarding their futures.

TGI Fridays currently maintains 80 restaurants around the country and despite recent troubles is described as demonstrating “a resilient financial performance”. Sky News reports that sources close to the firm expect the chain to be sold rather than to consolidate the sector, even when many market players are distressed.

Founded in New York in 1965, the chain first arrived in Britain in the 1980s. Since then, ownership of its UK business has changed hands many times before Electra took over with a £225 million deal in 2014.

An Electra spokesperson declined to comment on the group’s plan for TGI Fridays.


Share this article



Latest Businesses for Sale

Closed Chinese Restaurant
Merseyside, UK Wide

Closed Chinese restaurant in spectacular China Town location. Property available to rent. Semi-retirement sale. Offers invited.

Asking Price: £574,995
Turnover: £364,000

Delicatessen
Lancashire, UK Wide

Lucrative delicatessen in Lancashire. Established since 2010. Very busy location with excellent reputation. Offers invited.

Asking Price: £199,500
Turnover: £342,311

Fish & Chip Shop
Grantham, Lincolnshire, UK Wide

Newly refurbished fish and chip shop for sale in Grantham. Operating from a residential trading location. Established 1998. Accommodation available at an additional cost. Free parking available. Offers invited.

Asking Price: £175,000
Turnover: £312,000


View more businesses for sale

News Search

Latest News

 
19
 
Jul
 

Outdoor activity centre completes MBO | BUSINESS SALE

An outdoor water activity centre has been successfully sold ...

 
18
 
Jul
 
 
17
 
Jul
 

Preston caravan manufacturer seeks buyer following administration | ADMINISTRATION

A caravan manufacturing business in Preston is on the lookou...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
04
 
Jan
 

Grainger to sell retirement division for £325 million | DIVISION SALE

Property management company Grainger has done the paperwork ...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources