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TGI Fridays owner in administration - with 87 much-loved restaurants at risk
The UK operator of TGI Fridays has collapsed into administration as it scrambles to sell 87 restaurants across the country, putting the future of the chain in doubt
TGI Fridays made its UK debut in the '80s (Image: Getty Images)Hostmore released a statement to the London Stock Exchange, expressing pride in their team: "The board is immensely proud of all Hostmore colleagues, both in store and in the support centre, who worked tirelessly to execute a turnaround programme over the past 18 months and to deliver a successful result on the proposed acquisition of TGI Fridays, Inc." The London stock market felt the impact, with Hostmore's shares taking a stunning 96% plunge from the start of the month, closing at a mere 22p recently. Launching in Birmingham, the casual dining chain swiftly became a British favourite, offering American comfort food in a relaxed bistro setting across the nation.
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