The business and assets of Liberty Bar and Restaurant Group, the company which manages the operations of TGI Friday’s UK restaurants, have been acquired by Sugarloaf TGIF Operations.
As well as the 33 TGI Friday restaurants, the transaction sees 1,384 employees transfer to the new business.
There was speculation earlier this month that up to 20 sites could close as part of the process. The 16 sites not included as part of the transaction have closed with immediate effect, resulting in around 450 redundancies.
“We have been working closely to explore all available options for securing the long-term future of TGI Fridays in the UK, and believe that this is the best outcome for the business, preserves jobs, and offers a strong platform for success and growth,” says Phil Broad, global president at TGI Fridays.
“TGI Fridays has a long history in the UK, and I believe that the future of the brand is in strong hands - focused on reinvigorating the brand while continuing to deliver the bold flavours, welcoming atmosphere, and high-energy dining experience that define TGI Fridays.”
Wider turnaround plan
Ryan Grant and Will Wright of Interpath were appointed joint administrators to Liberty Bar and Restaurant Group Limited on 13 January 2026. The business was sold immediately to Sugarloaf TGIF Operations, a company owned by Sugarloaf, the manager and custodian of the worldwide TGI Friday brand.
“We are pleased to have been able to secure this transaction which will see this well-known brand continue to trade across the UK,” says Grant.
“While these have been difficult times for hospitality operators generally, this marks a pivotal step in TGI Friday’s wider turnaround plan, putting in place stable foundations upon which it can begin to move forward.”
The purchase is the latest development in a challenging period for the TGI Fridays, which has undergone a number of sales over the past few years. In 2024 parent company Hostmore filed for administration, leading to dozens of closures, including of the brand’s flagship London Leicester Square restaurant.
It was later acquired by Breal and Calveton and then sold once again, this time to Sugarloaf, which brought in Interpath to explore strategic options for the business.