Hundreds of British hospitality workers face losing their jobs in the coming days as the owner of TGI Fridays finalises plans to buy back a slimmed-down version of one of Britain’s best-known casual dining chains.
Sky News has learnt that Sugarloaf TGIF Management, which only took control of TGI Fridays two months ago, is preparing to implement a pre-pack administration of the business in a deal which is expected to take place next week.
Insiders said a transaction was expected to involve the closure of a significant proportion of the estate’s 49 restaurants.
One suggested that between 15 and 20 of the sites could…