Private equity groups Calveton and Breal Capital to buy 51 restaurants, although 35 outlets will close
A rescue deal for the UK arm of TGI Fridays has been struck, with two private equity groups to buy 51 restaurants – although a further 35 outlets are to close with the loss of more than 1,000 jobs.
Calveton UK and Breal Capital, which own upmarket restaurants including Le Pont de la Tour, Quaglino’s and Coq d’Argent, have bought 51 sites from the joint administrators Teneo, which will result in the transfer of 2,389 employees.
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