Eversheds Sutherland leads on critical restructuring and rescue sale supporting TGI Fridays’ long‑term future in the UK

The transaction results in 33 of the company’s restaurants transferring to new ownership, securing the jobs of 1,384 employees.

 

Ryan Grant and Will Wright from Interpath 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 Limited, a company owned by Sugarloaf, the manager and custodian of the worldwide TGI Friday brand.

 

TGI Fridays new ownership supports the brand’s ambitions for long-term commercial growth, following industry reporting that the group is targeting a significant expansion trajectory over the years ahead, including plans to grow its footprint and scale its revenue base.

 

Eversheds Sutherland advised on all aspects of the restructuring and sale. The team was led by Partners Alex Mehdevy and David Gray, supported by Anne Louise Lawrence, Partner, Alisdair Jamieson, Principal Associate, Connor Atkinson, Senior Associate and Courtney Lonsdale, Associate.

 

David Gray, Partner, Eversheds Sutherland, said:

 

“We are pleased to have supported Interpath on this significant rescue sale. Preserving the majority of the estate and protecting so many roles is a hugely important outcome, particularly against a challenging backdrop for the UK hospitality sector. It also underpins the strength of collaborative restructuring and the benefits it can deliver for employees, creditors and customers alike.”

 

Alex Mehdevy, Partner, Eversheds Sutherland, said:

 

“This transaction highlights what can still be achieved, even in highly sensitive and difficult circumstances, when stakeholders work with focus and shared purpose to protect jobs and stabilise a much‑loved brand. While the process has not been without its challenges, we are glad to have helped secure a result that preserves continuity for many and gives the business a firmer foundation from which to move forward.”

 

Ryan Grant, Managing Director at Interpath and Joint Administrator, said:

“This was a particularly notable transaction for the future of the business and its people, who have shown remarkable resilience throughout the process. Eversheds Sutherland played an exceptional role in helping us achieve this rescue. Their clarity, commitment and ability to manage complexity under real pressure were invaluable and contributed significantly to this outcome.”

Phil Broad, Global President of TGI Fridays, said:

“This transaction secures the long-term future of TGI Fridays in the UK, and we believe this outcome provides the best possible platform for the business. It preserves jobs, protects the brand’s long-standing presence in the UK, and creates the opportunity to allow the brand to continue to deliver bold flavours, a welcoming atmosphere and the high-energy dining experience that define TGI Fridays.”