Full list of TGI Friday restaurants at risk as chain 'on brink of collapse'

The future of American diner TGI Fridays hangs in the balance following reports that its parent company, Hostmore, is on the verge of collapse. The restaurant chain has put all 85 of its UK venues up for sale after a near-total collapse in Hostmore's share price following the announcement that it had abandoned plans to acquire outlets in the US.

The owners are aiming for a swift sale by the end of the month. Shares in the London-listed company have plummeted by 96% since the beginning of this month, closing yesterday at just 22p.

Among the locations up for sale are TGI Friday's restaurants in Cardiff's St David's shopping centre, the restaurant on Newport Road in Cardiff, the restaurant in Friars Walk in Newport and the restaurant on The City Gates in Swansea. The chain's history dates back to 1965 when the first branch opened in New York.

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Over 20 years later, in 1986, TGI Fridays - an acronym for 'Thank God It's Friday' - made its way to the UK, reports the Manchester Evening News. After initially opening in Birmingham, the chain quickly spread across the country with its popular casual American bistro-style dining concept.

Known as Dub Dubs, the serving staff were trained to entertain customers with jokes, banter, and other gimmicks such as juggling and magic tricks, all performed with impeccable table craft and cheerfulness. In the early 90s, T. G. I. Friday's Covent Garden branch was touted as Europe's busiest restaurant.

A decade ago, a private equity firm took over the chain and rebranded it to TGI Fridays, dropping all punctuation from its name. To locate your nearest TGI Fridays branch, refer to our map below:

In 2021, the company transitioned into Hostmore, a listed entity, and the restaurants were briefly renamed 'Fridays'. However, due to customers still referring to it as 'TGI's', the original name was reinstated.

Recently, the chain has seen a decline in fortunes, with Hostmore reporting a drop in UK sales by more than a tenth this year compared to last. Hostmore is currently in the process of selling its UK restaurants to new owners, aiming to transition to a fully franchise-operated model. The Daily Telegraph also reports that 3,000 people are employed by the chain, it said: "Restructuring experts at Teneo have been tasked with leading the hunt for potential buyers of the TGI diners in the UK as senior creditors attempt to recoup some of the money they loaned the company. "Hostmore had outstanding borrowings of £35m at the end of last year and an estimated 3,000 jobs are also on the line. A deadline has been set at the end of the month for any asset sales that will help to repay the company's main lenders, NatWest and HSBC."

The sale, expected to be finalised by month-end, could lead to Hostmore being wound up and delisted from the London Stock Exchange. The UK restaurants, known for their New York-inspired food and cocktail menu, will continue operating as usual.

It remains unconfirmed whether all or only a selection of TGI's restaurants will be saved, with the possibility of others being taken over by another chain. Parent company, Hostmore has been approached for comment. Find out about the latest events in Wales by signing up to our What's On newsletter here.