Recent Developments in the Restaurant Industry: Leadership Changes and Acquisitions
Explore the latest news in the restaurant industry, including leadership changes, acquisitions, and industry updates. Stay informed with the most recent developments.
Photo by Austin Distel on Unsplash
TGI Fridays Sale Cancellation
Hostmore, the U.K.-based operator of casual-dining chain TGI Fridays, recently announced the cancellation of its purchase of the chain. This decision comes as a trustee overseeing Fridays' substantial debt of $375 million terminated Hostmore as the company's manager. Consequently, control of most of Fridays' assets, including oversight of the franchise business, has been handed over to a consultant, marking a significant shift in the chain's operational structure.
