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It is now being marketed by CDLH, the Glasgow-based estate agent. CDLH posted on LinkedIn: “Following the unfortunate administration of Hostmore PLC and their subsidiaries, the former licensed site 63rd + 1st in Glasgow city center has now reverted to the landlord. CDLH is very proud to have been instructed by the landlord to secure a new tenant.
“The building, which extends to 7,300 sq ft over ground and basement, provides a first class licensed building, with a full commercial kitchen. The building has been fitted to a very high standard throughout and is in walk-in condition.
“The location is fantastic as it is in the core licensed circuit of the city center and close to major transport hubs including nearby Glasgow Central station.”
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CDLH said it had put the unit on the market at no premium and rental offers of around £100,000 a year.
Hostmore, which ran around 90 TGI Fridays outlets across the UK, cited an “extremely challenging trading and macroeconomic backdrop” and a failed attempt to acquire TGI Fridays in the US, when it announced the appointment of administrators in September .
It came days after the company walked away from the US deal and said there would be efforts to find a buyer for its UK stores, a move designed to raise cash and move to light capital model, is “unlikely… to recover any meaningful value for the group”.
Hostmore had previously closed the doors to the last of its 63 + 1st outlets in Glasgow in June. The loss-making company previously closed three more New York-inspired 63rd + 1st stores in Cobham, Harrogate, and Edinburgh as it grappled with weaker consumer spending.
(Except translation, this story has not been edited by achinews staff and is published from a syndicated feed.)
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