UK's Hostmore drops plan to buy restaurant chain TGI Fridays
09/09/2024 07:52
Sept 9 (Reuters) - British restaurant operator Hostmore
MOREH.L on Monday said it has dropped plans to buy pub chain
TGI Fridays after it was removed as the manager of TGIF Funding.
TGIF Funding owns the right to collect royalties from the
TGI Friday franchise.
"The predictable and highly cash generative royalty stream
of TGI Fridays was the primary attractive feature for the Group
in pursuing the acquisition," Hostmore said.
(Reporting by DhanushVignesh Babu in Bengaluru; Editing by
Sonia Cheema)
((DhanushVignesh.Babu@thomsonreuters.com;))