The Latest Breaking News from TGI Fridays

At its peak, the family restaurant had 600 restaurants nationwide – now it has just 85 locations remaining

TGI Fridays has closed a string of branches in recent months – including its flagship London restaurant

IN FOCUS: Chain restaurants were once the cornerstones of British dining, loved for their affordability and reliability. But rising costs, changing tastes and the pressures of a shifting dining landscape are pushing them to the brink. Can they adapt, asks Hannah Twiggs, or are they destined to become relics of…

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The company said in a statement that the COVID-19 pandemic was the “primary driver of our financial challenges"

Franchisees are concerned the restaurant chain will be unable to reimburse them for cashed-in vouchers dating back as early as 2003.

The company that owns and operates 39 outlets in the U.S. blamed its misfortunes on the COVID-19 pandemic and 'our capital structure.'

Private equity groups Calveton and Breal Capital to buy 51 restaurants, although 35 outlets will close

While 1,000 people lost their jobs, 2,000 others were saved.