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

Hot Beverage Products & Services Provider
South of England, UK Wide

Operating a Twin Sales Model. Two related businesses providing complementary services in the coffee industry with one a well-respected B2B brand for coffee tea and related consumables and equipment and one that works with distributors and manufacture...

Asking Price: Offers Invited
Turnover: £1,420,000

Bakery
Somerset, UK Wide

Long established, fully equipped and profitable bakery in an area of Somerset that is enjoying further development. A bakery has operated out of this location for over 40 years with our client trading in all of those years serving both local resident...

Asking Price: £79,950
Turnover: £468,000

LEASEHOLD


Classic French Bakery & Manufacturer
London, UK

Unique opportunity to acquire a classic French bakery in London. Now for sale on a Leasehold basis, this is the perfect opportunity for a buyer who has a background or knowledge in the production of luxury sweets or confectionery. Offers invited.

Asking Price: £200,000
Turnover: £378,215

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
03
 
Jul
 

Next completes sale and leaseback of head office and warehouses | COMMERCIAL PROPERTY

High street fashion retailer Next Plc has confirmed the succ...

 
02
 
Jul
 

Benchmark Holdings secures sale of veterinary business | BUSINESS SALE

Sheffield-headquartered aquaculture health, nutrition and ge...

 
01
 
Jul
 

TM Lewin to close all UK stores in pre-pack administration | ADMINISTRATION

Shirtmaker TM Lewin will close all 66 of its UK stores as pa...

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