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Miami Herald
16-07-2025
- Entertainment
- Miami Herald
Iconic restaurant chain turns to TV in comeback attempt
Every classic American sitcom has a signature hangout spot seen in multiple episodes. Whether a coffee shop or a diner, these places have a nostalgic air and familiarity that remind us of our own lives. Founded in 1965 in New York City, this restaurant became that real-life go-to staple where families could gather, share a meal, and connect after a hectic day. Don't miss the move: Subscribe to TheStreet's free daily newsletter TGI Fridays was that beloved place - even its name stands for everything it represented. But in 2024, the chain quietly began closing locations nationwide, citing a desire to boost growth by shedding underperforming restaurants. Related: Bankrupt restaurant chain offers new deal, stiff drink However, there was more to this move than meets the eye, because the company filed for Chapter 11 bankruptcy in November of that year. TGI Fridays was $37 million in debt but secured financing, which allowed the remaining 85 restaurants to proceed with regular operations. Image Source: TheThe restaurant chain is now looking for new ways to boost business after losing market share to its rivals, and it's hoping a beloved TV network will entice customers. TGI Fridays has partnered with Warner Bros. Discovery's (WBD) Turner Broadcasting System (TBS) to launch "The Flavor Show," a new limited-time promotion at participating locations nationwide. More Food News: Popular chicken chain is begging customers to give it another chanceChick-fil-A offers free food to game-playing fansAfter big cuts, Starbucks' menu gets 'secret' new additions TBS manages nostalgic networks including TBS, TNT, and Turner Classic Movies. To capitalize on that vibe, the TBS Trio is a massive platter of tots, boneless wings, and sliders (or TBS - get it?) served over fries, all for $15. This new offering is big enough to share. But that's not all. TGI Fridays is also releasing a new summer menu with exciting additions focusing on innovation and trends. Specialty drinks have become all the rage in the food industry due to the massive traction they have gained among younger generations. This has prompted major food chains to expand their offerings by launching new beverage options to remain relevant in a challenging market. TGI Fridays refuses to fall behind its competitors again, so it's expanding its beverage menu by introducing Dirty Sodas. These non-alcoholic beverages blend a soda base, like Coca-Cola or Dr. Pepper, with syrups, fruit, and cream. The restaurant chain is making these unique sodas even more fun and earning extra revenue by suggesting liquor shot pairings for $3 more. The new Dirty Soda pairings are Cherry Cream Cola with Jack Daniel's, Strawberry SZN with Malibu, Dr. Vibe with Hennessy, and Dirty Sunshine with Tito's Vodka. Related: Bankrupt restaurant chain makes bold comeback in surprise market Additionally, TGI Fridays is unveiling two more menu items in unexpected categories. The new Whiskey Buffalo Sauce, which mixes Whiskey-Glaze and buffalo sauces, was made for those who enjoy an extra kick in their food. For those with a sweet tooth, the Celebration Sundae features vanilla ice cream, butter cake, brownies, and strawberries, finished with whipped cream and topped with chocolate and caramel drizzle, sprinkles, and cherries. Related: Veteran fund manager unveils eye-popping S&P 500 forecast The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Irish Independent
16-07-2025
- Business
- Irish Independent
Butler brothers granted stay on High Court order restricting their ability to act as company directors
Two brothers behind a number of high-profile Irish franchises – including several Starbucks cafes, TGI Fridays, Mao, and Hard Rock Cafe – have secured a stay on a court order restricting them from acting as directors.
Irish Examiner
15-07-2025
- Business
- Irish Examiner
Butler brothers secure stay on order restricting them from acting as company directors
Two brothers behind a number of high-profile Irish franchises — including several Starbucks cafes, TGI Fridays, Mao and Hard Rock Cafe — have secured a stay on a court order restricting them from acting as directors. In a judgment published last month, Ms Justice Nessa Cahill found Colum and Ciaran Butler failed to prove they acted responsibly in the operation of one of their companies, Downtul Ltd, which leased a premises at St Stephen's Green, Dublin, that operated as a Starbucks. Downtul was placed in voluntary liquidation in November 2022. The judge granted a declaration sought by Downtul liquidator Patrick O'Connell restricting the brothers from acting as company directors or secretaries for five years unless the company meets certain requirements set out in the Companies Act 2014. Such an order means that, for the Butler brothers to act as directors of a company during that five-year period, that company must have share capital of at least €100,000 paid up by shareholders — or €500,000 in the case of a public limited company. The judge had found the brothers did discharge the burden of showing they acted honestly in the operation of Downtul. Lawyers for the Butlers on Tuesday successfully applied for a stay on the order, after submitting their clients would require time to get their affairs in order. Brian McGuckian told the court his instructions were to seek a stay on the order for six months, for two reasons. He said he was firstly seeking the stay to allow the Butlers time to organise their affairs, noting Ciaran is the director of 134 companies, while Colum is the director of more than 170 companies. Mr McGuckian said there was a general practice of the court affording directors time to organise their affairs in the context of an order of this kind. He said he was also seeking a stay pending a possible appeal being brought against the High Court decision. Padraic Lyons SC, for the receiver, said there was an obvious distinction between the granting of a stay pending an appeal, and a stay to allow the directors to get their affairs in order. His side had received no correspondence on a potential appeal, and there were no draft grounds of appeal before the court. It was a matter for the directors to put before the court arguable grounds for appeal, he said. Mr Lyons agreed there should be a stay granted to allow the directors to organise their affairs, but submitted that six months was an excessive amount of time. Ms Justice Nessa Cahill said she would grant a stay of four months to allow the Butlers to organise their affairs. She said she was not granting the stay pending a possible appeal, but noted the granted stay will be the same terms had she acceded to the application for a stay pending appeal. It was a matter for the respondents if they wished to bring an applicant to appeal, she said.
Daily Mirror
09-07-2025
- Business
- Daily Mirror
Owner of UK's largest fish and chips chain shuts nine restaurants
The funds from the sale of the nine restaurants were used to refurbish some Harry Ramsden's locations, as well as marketing campaigns Fish and chip shop chain Deep Blue Restaurants has sold off nine of its branches. The restaurant chain parted ways with these sites between October 2024 and May 2025 in order to generate more money for another of its well-known brands. Deep Blue Restaurants also owns Harry Ramden's, having purchased the company from Boparan Restaurant Group six years ago in 2019. The funds from the sale of the nine Deep Blue Restaurants were used to refurbish some Harry Ramsden's locations, as well as marketing campaigns. The company has 16 Deep Blue restaurants and eight Harry Ramsden's sites, according to its website. Deep Blue Restaurants saw its turnover fall by 2.5% to £22.9million, while its gross profit dropped 1.2% to £15.8million in the year ended 24 September 2024. But its pre-tax losses also fell to £2.2million, down from a £3.6million loss the previous year. The group secured £5.57million debt funding between October 2024 and February 2025. James Fleming, the group's chief executive, wrote in the latest accounts: 'As in prior years, global events, the cost of living crisis and food cost inflation continued to present headwinds to trading in the first three quarters of FY 2025. 'Despite this, performance has been robust. Looking at the sites on a like for like basis (to account for the disposal of some stores) the group is trading in line with the budget set at the start of the year. 'Continued success with the franchising and licensing of the Harry Ramsden's brand has further driven revenue and profitability across the group. 'Management continue to focus on developing this element of the business, and there have been further new contract wins into 2025.' It comes after TGI Fridays revealed it has launched a new UK menu following a major rescue deal that was made last year. The UK operator of TGI collapsed into administration in September last year - but the brand was saved when it was acquired by private equity firms Breal Capital and Calveton UK. However, the deal only saved 51 restaurants - meaning 35 restaurants had to shut down and around 1,000 members of staff were made redundant. TGI - which is known for its US-themed dishes and cocktails - now has 49 restaurants and around 2,500 members of staff. In an update today, TGI said it has undergone a significant transformation since being bought out of administration in October. TGI Fridays first opened in New York in 1965 with a party-led theme and continues to operate a string of restaurants in the US. It then opened its first restaurant in the UK in the 1980s and has been a popular destination for birthday parties and cocktail nights for the last 40 years.
Scottish Sun
08-07-2025
- Business
- Scottish Sun
Britain's largest fish and chip chain shuts NINE restaurants in major shake-up – is one going near you?
Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) BRITAIN'S largest fish and chip chain has sold off nine of its popular restaurants. The sale is part of a major shake-up for the brand, as it shifts its focus to another popular restaurant chain that it owns. Sign up for Scottish Sun newsletter Sign up 3 KXC31W The Harry Ramsden Fish and Chips Restaurant at Bournemouth seafront during evening light against blue sky in January 2018, Dorset, England, UK Credit: Alamy 3 Barry Moran undertakes, and fails, the Harry Ramsden Challenge. Credit: Crispin Rodwell - The Sun Dublin Deep Blue Restaurants is the largest operator of fish and chip restaurants in the UK and owns several well-known brands. It bought the popular chain Harry Ramsden's in 2019 and has decided to shift its focus to that rapidly growing brand. As part of the overhaul, the company's latest accounts have revealed that it has sold nine Deep Blue Restaurants. The eateries were sold between October 2024 and May 2025 and the money raised has been channeled into Harry Ramsden's restaurants. The funds were used to refurbish some of Harry Ramsden's restaurants, as well as funding several national and international marketing campaigns. Deep Blue Restaurants has been battling a drop in sales over the last year, with its turnover falling by 2.5 per cent in September 2024. Despite its successful efforts in securing £5.57 million in debt funding between October 2024 and February 2025, the company has pushed ahead with its strategic shakeup. Writing in his firm's accounts, James Fleming, the group's Chief Executive, said: 'As in prior years, global events, the cost of living crisis and food cost inflation continued to present headwinds to trading in the first three quarters of FY 2025. 'Despite this, performance has been robust. Looking at the sites on a like for like basis (to account for the disposal of some stores) the group is trading in line with the budget set at the start of the year. 'Continued success with the franchising and licensing of the Harry Ramsden's brand has further driven revenue and profitability across the group. Costa Coffee Shuts Whitstable Branch: What Shop Closures Mean for UK High Streets 'Management continue to focus on developing this element of the business, and there have been further new contract wins into 2025.' The news comes as TGI Fridays announced its return to the high street, after being saved from administration. The company's bosses have said that a 'full brand reset' is now underway, with 70 per cent of its grill items being reworked. A greater focus will be placed on its Americana aesthetic and theatre theme. TGI Fridays has been a mainstay on UK high streets since 1986, but has encountered falling sales over recent years. 35 of its restaurants were closed, making 1000 members of staff redundant. However, Breal Capital and Calveton UK has acquired its remaining 51 restaurants. Julie McEwan, chief executive of TGI Fridays UK, said: "This is an exciting moment for TGI Fridays - a full brand reset that reinforces everything people have always loved about us. "TGI Fridays has a rich heritage of bold flavour, high-energy hospitality and unforgettable celebrations - and we've gone back to those roots to bring that magic into a new era. "Over the past eight months, we've restructured the business, invested in our incredible team, and rebuilt our offer around quality, value and experience." Deep Blue Restaurants have been approached for comment by The Sun.
