Interpath secures pre-pack sale of TGI Fridays UK business

Interpath has secured a pre-pack sale of the UK business of TGI Fridays, enabling the restaurant chain to continue trading across much of the country and safeguarding more than 1,300 jobs.

The business and assets of Liberty Bar and Restaurant Group, which operates TGI Fridays in the UK, have been sold to Sugarloaf TGIF Operations in a transaction completed immediately after the company entered administration.

Ryan Grant and Will Wright, managing director and partner at Interpath, were appointed joint administrators to Liberty Bar and Restaurant Group on 13 January 2026. 

Shortly after their appointment, they completed the sale to Sugarloaf TGIF Operations, a company owned by Sugarloaf, the manager and custodian of the global TGI Fridays brand.

The transaction includes the transfer of 33 restaurants and secures the continued employment of 1,384 staff, who have moved to the new owner as part of the deal.

However, 16 sites were not included in the sale and have closed with immediate effect, resulting in 456 redundancies. Interpath said it was providing support to affected employees as a priority.

TGI Fridays has operated in the UK for several decades and has been seeking to stabilise the business amid rising costs and softer consumer spending across the casual dining sector.

Grant said: “We are pleased to have been able to secure this transaction which will see this well-known brand continue to trade across the UK. 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.”

Phil Broad, global president at TGI Fridays, added: “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.”