Not too surprised. They’re only marginally better than Frankie and Bennies imo
Used to be reliably okay but has become progressively more expensive and lower quality. Seems a lot of that about.
TGI owns all the restaurants in a big lump. Overall that lump is losing money.
TGI will go into administration, and liquidate the company. This will provide two things, it released them from any and all debts or leases for restaurants that are struggling, and secondly, it means that there can’t be any redundancy or tribunals for employees who are “let-go”.
Once “TGI” goes into administration. “TGI 2” which is a separate business with the same shareholders will buy all the restaurants from “TGI” that are still profitable. They will then be able to re-evaluate their leases on their restaurants for market value, which will be lower than what they currently are.
As a result of the administration the government will insist that the new TGI 2 cannot have the same board of directors, which means that all the current board of directors will get lovely golden parachutes.
“TGI 2” will continue to operate, but instead of, for example, 50 unprofitable sites and 37 profitable sites, they will only be operating the 37 profitable sites under a new limited company, and they negate any debt that the original TGI owes in rent, to suppliers or to staff.
Are they still doing that, can you wait at the bar? Whilst there are loads of empty tables. That stopped me going.
How? They are always full in the evening
Goes to show when their iceland food is better than the resturants
This chain was popular for a while, when people with money ate out a fair bit, but I’m not suppressed to see them struggling for the last decade or so.
I worked at one of their first branches in Britain. People couldn’t wait to try them at the time but the high prices, the ridiculous number of identical, poor quality, American chain places and falling standards have made me wonder why they were still operating.
Also they were hopelessly old fashioned to begin with, like a 1982 Beefeater, except with syrup on everything!
Who knew microwaving almost ervery dish wouldn’t be popular with customers?
I won’t miss them.
I don’t know about everyone else but eating out and takeaways a luxury I can’t really afford now. Brexit, covid and ukraine inflation coupled with stagnant wages I’d imagine there’s lots of people like me who now only go out twice a year and maybe have a Chinese or Indian meal once every month or two.
Always mega expensive, was the place in my teens/early 20s I’d go for a meal with my girlfriend but then you find better places. Always surprised it lasted so long when the food was bang average takeaway food. Shame people are losing their jobs though and more hospitality businesses are biting the dust!
their food has gone shittier, service shittier, prices higher whilst at the same time there is so much more choice out there and retail unit rental costs are higher, especially with the large premises they tend to have. compared to when TGIs first started, it was always gonna be tough to survive. next it’ll be frankie and bennys and pizza hut if they dont transition fast.
That’s because Joanna only had the minimum 15 pieces of flair
13 comments
Not too surprised. They’re only marginally better than Frankie and Bennies imo
Used to be reliably okay but has become progressively more expensive and lower quality. Seems a lot of that about.
TGI owns all the restaurants in a big lump. Overall that lump is losing money.
TGI will go into administration, and liquidate the company. This will provide two things, it released them from any and all debts or leases for restaurants that are struggling, and secondly, it means that there can’t be any redundancy or tribunals for employees who are “let-go”.
Once “TGI” goes into administration. “TGI 2” which is a separate business with the same shareholders will buy all the restaurants from “TGI” that are still profitable. They will then be able to re-evaluate their leases on their restaurants for market value, which will be lower than what they currently are.
As a result of the administration the government will insist that the new TGI 2 cannot have the same board of directors, which means that all the current board of directors will get lovely golden parachutes.
“TGI 2” will continue to operate, but instead of, for example, 50 unprofitable sites and 37 profitable sites, they will only be operating the 37 profitable sites under a new limited company, and they negate any debt that the original TGI owes in rent, to suppliers or to staff.
Are they still doing that, can you wait at the bar? Whilst there are loads of empty tables. That stopped me going.
How? They are always full in the evening
Goes to show when their iceland food is better than the resturants
This chain was popular for a while, when people with money ate out a fair bit, but I’m not suppressed to see them struggling for the last decade or so.
I worked at one of their first branches in Britain. People couldn’t wait to try them at the time but the high prices, the ridiculous number of identical, poor quality, American chain places and falling standards have made me wonder why they were still operating.
Also they were hopelessly old fashioned to begin with, like a 1982 Beefeater, except with syrup on everything!
Who knew microwaving almost ervery dish wouldn’t be popular with customers?
I won’t miss them.
I don’t know about everyone else but eating out and takeaways a luxury I can’t really afford now. Brexit, covid and ukraine inflation coupled with stagnant wages I’d imagine there’s lots of people like me who now only go out twice a year and maybe have a Chinese or Indian meal once every month or two.
Always mega expensive, was the place in my teens/early 20s I’d go for a meal with my girlfriend but then you find better places. Always surprised it lasted so long when the food was bang average takeaway food. Shame people are losing their jobs though and more hospitality businesses are biting the dust!
their food has gone shittier, service shittier, prices higher whilst at the same time there is so much more choice out there and retail unit rental costs are higher, especially with the large premises they tend to have. compared to when TGIs first started, it was always gonna be tough to survive. next it’ll be frankie and bennys and pizza hut if they dont transition fast.
That’s because Joanna only had the minimum 15 pieces of flair