TGI Fridays has announced the closure of 35 of its restaurants, after entering administration.
The American restaurant and cocktail bar chain, which has a restaurant on Stevenage Leisure Park, entered administration in September after struggling with debt and heavy losses, putting all 86 locations at risk.
Today (October 7), administrators Teneo have secured a deal which will save 51 TGI Fridays restaurants - including the one in Stevenage - and nearly 2,400 jobs.
Meanwhile, 35 of the brand's restaurants have closed with immediate effect, and more than 1,000 staff will lose their jobs.
Julie McEwan, chief executive of TGI Fridays UK, said: "TGI Fridays is a much-loved brand with a rich heritage.
"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.
"We look to the future with confidence that the TGI Fridays brand will continue to attract loyal and new guests."
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