Majority of TGI Friday restaurants across the UK acquired via pre-pack deal, 16 sites to close: The business and assets of Liberty Bar and Restaurant Group Limited, the company which manages the operations of TGI Friday’s UK restaurants, have been acquired by Sugarloaf TGIF Operations in a pre-pack transaction which sees the transfer and continuing operation of 33 restaurants across the UK. Ryan Grant and Will Wright were appointed joint administrators to Liberty Bar and Restaurant Group Limited on 13 January 2026. Immediately thereafter, they sold the business and assets of the Company to Sugarloaf TGIF Operations, a company owned by Sugarloaf, the manager and custodian of the worldwide TGI Friday brand. As well as the transfer of 33 TGI Friday restaurants, the transaction also safeguards the jobs of 1,384 employees who have transferred to Sugarloaf TGIF Operations. A total of 16 sites are not included as part of the transaction, and as such, have closed with immediate effect, resulting in 456 redundancies. The joint administrators are providing all support to those employees impacted by redundancy as a matter of priority. “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”,said Phil Broad, Global President, TGI Fridays. “TGI Fridays has a long history in the UK, and I believe that the future of the brand is in strong hands – focused on reinvigorating the brand while continuing to deliver the bold flavours, welcoming atmosphere and high-energy dining experience that define TGI Fridays.” Grant, managing director at Interpath and joint administrator, 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.”

 

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Events venue and caterer Manchester Central sees turnover top £30m: Events venue and caterer Manchester Central saw its turnover top the £30m mark in the year to 31 March 2025, as it said it delivered “another strong trading performance”. The business, which also provides retail catering, hospitality and event services to Manchester Town Hall and Central Library, saw turnover for the year reach £30,100,000 (2024: £27,206,000), with a pre-tax profit of £2,199,000 (2024: £2,007,000). The company said: “During the reporting period there were 23 association events held of which six of these were international clients. Included within this was WOMEX: the World Music Expo, an event that brought thousands of attendees and musicians from around the world to Manchester, with Manchester Central being one of many Manchester venues that made this possible. There were 41 corporate meetings during the reporting period. Exhibitions remain a key part of the mix of events at Manchester Central, with 37 hosted during the period. Re-book levels remain high as a result of delivering great customer service on these events.”

 

Crerar Hotel Group falls to a pre-tax loss: Crerar Hotel Group, which operates ten Scottish hotels and inns and was acquired by Blantyre Capital in March 2023, fell to a pre-tax loss in the year to 31 March 2025, as it said “labour shortages and supply price pressures” continued to impact the business. The company saw turnover increase by almost 4% to £20,911,413 during the period, but the business saw a pre-tax loss of £175,484 versus a pre-tax profit of £56,973 the year before. The group said: “Labour shortages and supply price pressures continue to impact the business, but we prioritise investing in our people and processes to ensure we are in a stable position. We have expanded our central team to provide us with a platform to support future growth. Hotel payroll was controlled to maintain efficiency and payroll cost as percentage of revenue improved by 0.4% year on year. When comparing performance with previous year, the company continued to focus on its aim of increasing accommodation sales and group occupancy increased from 59.5% to 61.5%. There have also been improvements in secondary spends of food and liquor with a 9.2% increase in revenue year on year. Despite high food inflation, the food gross profit percentage improved by 8.6% and the liquor gross profit improved by 1.4%.”