The Reading branch of TGI Fridays in Caversham Road is among 51 branches saved from administration as a deal shores up the beleaguered brand.

The American cocktail bar and restaurant fell into administration last month, jeopardising the future of its restaurants across the UK. 

Now the chain has been acquired by Breal Capital and Calveton UK, the name behind D&D London, Byron Burgers and Vinoteca.

The deal will save nearly 2,400 jobs at 51 restaurants - but the administrators, Teneo, said 35 branches have closed due to the financial woes facing the firm. 

Julie McEwan, Chief Executive of TGI Fridays UK, said: “TGI Fridays is a much-loved brand with a rich heritage. The news today marks the start of a positive future for our business following a very challenging period for the casual dining sector as a whole. We look to the future with confidence that the TGI Fridays brand will continue to attract loyal and new guests.

“We are devastated for our colleagues who will be leaving TGIs and thank them for their loyalty and contribution during their time with us. We are doing everything possible to retain our team and support those impacted.

“We would like to thank our team and our loyal guests for supporting us during this transition. We are proud to serve millions of customers across the UK and are committed to continuing to evolve our proposition and to give our guests a great value for money experience that keeps them coming back to enjoy TGI Fridays time and again.”

It means the branch in Caversham Road restaurant in the Reading Station Shopping Park has been thrown a life-line - but its future remains threatened by plans to build 1,000 flats and office space at the shopping park. 

In May, the government approved the redevelopment project, which would mean the closure of The Range, Majestic Wines, Aldi, One Below and Reading’s oldest TGI Fridays. 

Reading Borough Council has submitted an application to the High Court for the decision to be re-assessed and possibly overturned.

Full list of TGI Fridays UK restaurants remaining open

Reading - Caversham Road

Bluewater

Trafford Centre

Meadowhall

Aberdeen Union Square

Metrocentre

Basildon

Glasgow Fort

Milton Keynes Stadium

Braehead

Wembley

Birmingham NEC

Glasgow

Junction 27

Castleford

Lakeside Quay

Teesside

Bolton

Norwich

St Davids

Doncaster

Lakeside

Fareham

Liverpool One

Stevenage

White Rose

Cribbs Causeway

Rushden Lakes

Stoke on Trent

Southampton

Silverburn

Watford Central

Aberdeen Beach

Braintree

Bournemouth

Stratford

High Wycombe

Cheshire Oaks

Walsall

Milton Keynes

Sheffield

Nottingham

Edinburgh

Coventry

Ashton-Under-Lyne

Telford

The O2

Staines

Crawley 

Cheadle

Leicester Square