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.
Fully equipped pizza and kebabs takeaway and delivery. Please note the purchase of this business is subject to entering into a franchise agreement, full details available upon request. Offers invited.
LEASEHOLD
Spacious licensed restaurant. Outstanding opportunity to acquire a quality Italian Restaurant which has been in the same hands for the past 32 years. Offers invited.
LEASEHOLD
Most Attractive Licensed Italian Restaurant Plus Café & Coffee Shop in the same hands for the past 30 years. Offers invited.
LEASEHOLD
|
21
|
|
Mar
|
Kent Logistics provider completes a successful acquisition | BUSINESS SALE
A Kent-based personalised logistics provider, backed by Livi...
|
20
|
|
Mar
|
Warrington construction company enters administration | ADMINISTRATION
A prominent construction business headquartered in Orford Gr...
|
19
|
|
Mar
|
Prominent stationery supplier enters administration | ADMINISTRATION
Another British high street retailer has fallen victim to th...
Sign up to receive our acquisition alert emails to get your FREE guide
|
04
|
|
Jan
|
Grainger to sell retirement division for £325 million | DIVISION SALE
Property management company Grainger has done the paperwork ...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources