TGI Fridays closes 16 UK stores, with 456 job lossesPA MediaTGI Fridays has closed 16 of its UK restaurants, putting 456 employees out of work. The American-inspired casual dining chain's remaining 33 restaurants will continue to operate after the business was sold in a rescue deal. Interpath was appointed as administrator to Liberty Bar and Restaurant group, which managed the operations of TGI Fridays' UK restaurants, on Tuesday. TGI Fridays' business and assets were immediately sold to a company owned by Sugarloaf, the manager of the global TGI Fridays brand. Some 1,384 jobs were safeguarded in the deal, administrators said. Phil Broad, TGI Fridays' Global President, said: "We have been working closely to explore all available options for securing the long-term future of TGI Fridays in the UK, and believe that this is the best outcome for the business, preserves jobs, and offers a strong platform for success and growth."Ryan Grant, managing director at Interpath and joint administrator, said: "We are pleased to have been able to secure this transaction which will see this well-known brand continue to trade across the UK.