The future of TGI Fridays in the UK has been thrust into uncertainty, after the company that owns the franchise announced failed merger talks in America last week.
TGI Fridays - an American restaurant and cocktail bar chain - has a diner on Stevenage Leisure Park and two in Watford, in the High Street and on St Albans Road.
After failed merger talks in America last week, the UK franchise owner of TGI Fridays, Hostmore, has seen its share price plummet, leaving it with a stock market value of less than £1 million.
It is scrambling to sell all 87 of its UK TGI Fridays restaurants, to save the brand and thousands of jobs, and has tasked restructuring experts with finding potential buyers.
However, even if all sites are sold, the firm has said the money raised is unlikely to be sufficient to repay its debts in full, meaning it will be delisted from the stock exchange and wound down.
It is hoped TGI Fridays can continue in the UK under new ownership, if a buyer can be found.
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