TGI Friday’s Owners Considering Sale of Chain’s British Restaurants

Source: CityAm

A sale of TGI Friday’s UK restaurants is under consideration by its owners, Sentinel Capital and TriArtisan Partners, just two months after they bought the restaurant chain.

The private equity firms bought the global restaurant chain, known for its casual dining bar and grill service, in May for $800m (£468m).

TGI Friday’s first opened in the UK in Birmingham in 1986

However the new owners are now believed to be looking at selling the more than 60 TGI Friday’s restaurants operating in the UK, and may appoint advisers shortly, according to the Sunday Telegraph.

TGI Friday’s UK restaurants had been owned by UK hospitality company Whitbread, before being sold to US hospitality firm Carlson in 2007.

The chain was founded in 1965 in New York, and now has over 900 restaurants in over 60 countries, with sales of $2.7bn in 2013.