“British restaurants and cafes have been struggling with higher staffing, energy and food costs while diner numbers have dwindled as households avoid eating out as their spare cash has been squeezed by similar forces.”

“Increases in tax – including employers’ national insurance contributions and business rates – have layered on the pain.”

“The chain was founded by the restaurateur Alan Stillman in New York in 1965 as the world’s first casual cocktail bar and restaurant.”

“The majority of its restaurants now, from the Philippines to Peru, are run by franchisees.”

“TGI is known for its red and white stripes, decor packed with vintage paraphernalia, and all-American cuisine, from burgers to Kansas-style beef ribs and Texas mixed grills.”

“In the UK it has had a rocky history since its 1990s heyday, with Blanchette’s rescue deal coming less than 18 months after it was bought out of administration by two private equity firms, Calveton UK and Breal Capital, which owned upmarket restaurants including Le Pont de la Tour, Quaglino’s and Coq d’Argent. That deal involved the closure of about 35 restaurants.”

“Blanchette’s investment firm now controls the global master franchise for TGI, and his Sugarloaf Hospitality business directly runs 11 US outlets and the UK restaurants.”