Julie McEwan, chief executive of TGI Fridays UK, remarked, "The news today marks the start of a positive future for our business following a very challenging period for the casual dining sector as a whole." This statement emphasizes a hopeful outlook for the company despite the ongoing challenges faced in the industry.
McEwan also added, "We are devastated for our colleagues who will be leaving TGIs and thank them for their loyalty and contribution during their time with us." This highlights the emotional impact of the job losses on both the company and its employees.
In announcing the acquisition, Breal Capital and Calverton UK noted, "51 TGI Fridays restaurants have been acquired," indicating a significant consolidation effort to preserve the brand and its workforce.
With 1,000 jobs expected to be lost as a result of 35 restaurant closures, the deal reflects the harsh realities of the casual dining climate, illustrating the struggles many in the sector are encountering.
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