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TGI Fridays will remain on UK high streets after a rescue deal was secured for News Today the restaurant chain - but more than 1,000 staff have lost their jobs. 

Thirty-five restaurants are closing immediately after they were not included in the sale, resulting in 1,012 redundancies.

However, 51 sites have been rescued in the sale to Breal Capital and Calveton, a day after Sky News reported a deal was being finalised.

It means nearly 2,400 jobs have been saved across the chain.

Trade union Unite said on X that staff had been shut out of restaurants with padlocks on the doors changed, while others were invited to a video call with members of the head office with one hour's notice.

Other workers said they had not been told whether or not they will be paid, according to the trade union.

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TGI Fridays' parent company Hostmore said it was filing for administration last month due to debt problems.

The restaurants being saved are:

• 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
• Reading
• Cheadle
• Leicester Square.

Julie McEwan, chief executive of TGI Fridays UK, said: "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 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."

New private equity owners Breal and Calveton jointly own upmarket restaurant chain D&D London, and between them have had investments in Byron Burger and wine bar chain Vinoteca.

John Galliano is set to part ways with Maison Margiela after 10 years at the helm of the storied fashion house. The brand and designer confirmed the news today, having announced it to the company earlier this week.

The news comes after a great year for the house, which saw huge enthusiasm for the spring/summer 2024 couture show in January and also saw an impressive year on the red carpet for the brand with Galliano personally dressing the likes of Kim Kardashian and Zendaya for the biggest fashion event of the year, the Met Gala.

Marleen Moise//Getty Images

The house is yet to name a successor but Renzo Rosso, president of the OTB Group (which owns Maison Margiela), described his partnership with Galliano as "enriching, life-changing and groundbreaking" to WWD.

The designer himself shared a lengthy and heartfelt message to Instagram, where he spoke about how transformative his time at the house has been for him personally.

"Today is the day I say Goodbye to Maison Margiela," he wrote.

"My heart overflows with joyous gratitude, and my soul smiles. For I am 14 years old today — 14 years sober... The greatest, most precious gift [Rosso] gave me was the opportunity to once again find my creative voice when I had become voiceless. My wings mended, and I better understood the all-consuming act of creativity."

Pierre Suu//Getty Images

Galliano joined the house in 2014, having previously headed up his own fashion label while working as creative director of Givenchy and later Dior, where he was let go after a very public drunken anti-Semitic rant.

When he joined Margiela, he was four years sober and attempting to build back up his reputation.

This latest announcement comes at a time of a lot of change in the fashion industry. Chanel is still without a creative director since Virginie Viard left the company in June, and there are plenty of rumours about who might be taking the top spot and the fashion designer musical chairs that could follow.

Galliano did not give any clues as to where he may be headed next, but in his statement, he suggested that it had already been decided: "The rumours… Everyone wants to know, and everyone wants to dream.

It seems reasonable to conclude, at the very least, News Today that both sides were having second thoughts.

It also seems reasonable to say that a second bout of messy and not entirely consistent briefing from each camp underlines the central truth in all of this - the hurt, News Today the rows, the anger, the mistrust which has been there for all to see.

Her apparent lack of enthusiasm was almost immediately evident, when she failed to turn up at the first ever meeting of a new Council of the Nations and Regions in Edinburgh just days into the job.

What followed were daily questions to the prime minister’s official spokesman from reporters about whether she had taken up her post.

After weeks of stonewalling, an answer: no.

One insider got in touch about the envoy role and said: "We all thought it was a bad idea that would lead to endless drama and probably another resignation down the line."

In other words, what might have seemed like a mutually convenient layby into which Ms Gray could be shunted, ended up perpetuating a rather public soap opera.

Some sceptics had seen the new gig as a non-job from the start.

The government saying it isn’t looking to fill the vacancy will do little to dispel that instinct from those who thought it all along.

The Scottish National Party MP Pete Wishart mocked the News Today, telling the Commons: "We got the crushing news today that our British envoy to Scotland will no longer be coming there to represent this Parliament.

There was no surprise that the rate of inflation jumped again, News Today reflecting the recent hike in the energy price cap.

The new news today is that other underlying measures of inflation, for example services, and "core" inflation, both of which are watched closely by the Bank of England as an indication of domestic price pressures, both rose slightly and by more than expected.

It comes as an increasing number of firms warn that the tax rises and the higher minimum wage announced in the Budget could lead them to increase prices for customers.

In January, Donald Trump, comes into power as the US president, threating a blanket 20% tariff on all imports into the US.

Putting this all together and inflation could be on the up into spring next year, not far off 3%.

But the path of inflation going forward is unusually uncertain and Bank of England officials, who decide whether to raise or cut interest rates, are divided.

Four of the nine-strong Monetary Policy committee on Tuesday said it was was not clear whether prices rises will accelerate or slow in the coming months.

Much depends, News Today as numerous members of the Bank of England have suggested, on the pass through of Budget measures into prices and wages.

Bank of England governor Andrew Bailey reiterated earlier in the week that future interest rate falls would be "gradual".

This is likely to mean a cut at every other Bank of England interest rate meeting - so nothing next month, but then a further cut in early February.

If trends continue as expected, there will perhaps be a pause in March.

By May, much more data will be available about what has happened with wages and prices since October’s Budget changes.

To be clear, recent developments have not fundamentally altered the expectation of a series of rate cuts next year, but perhaps by the end of 2025 rates will be around 4% from their current 4.