Administrators on Standby as TGI Fridays Branches at Risk of Shutting in Milton Keynes

Hostmore, the parent company of several prominent restaurant brands, is reportedly preparing to sell off its estate, putting TGI Fridays at risk, with administrators on standby to manage the process.

The company, which has been grappling with financial challenges, is seeking a strategic solution to address its financial difficulties.

Among the branches affected by this move are those of TGI Fridays in Milton Keynes, which are likely to close. Specifically, the branches at 12th Street and MK1 near Stadium MK are at risk, along with around 85 other branches across the UK. The potential closures reflect Hostmore’s ongoing efforts to streamline its operations and reduce costs amidst a challenging economic environment.

Hostmore’s decision to put these TGI Fridays branches up for sale is part of a broader strategy to consolidate its holdings and focus on more profitable areas. The outcome of this sale will determine the future of these branches and could impact the local dining scene in Milton Keynes.

As administrators prepare to step in, there is uncertainty about the exact timing and nature of the closures. The company has yet to announce specific details, but the move underscores the ongoing pressures faced by the hospitality sector in the current economic climate.