Over 1000 jobs are set to be cut

However, the American themed franchise isn't going to disappear completely, with 51 restaurants, and 2,400 jobs, set to stay, after the brand was saved from administration.

A deal with Breal Capital and Calveton has saved the chain from going bust, and will keep the chain going.

Julie McEwan, the CEO of TGI's 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," she added.

Daniel Smith, senior manager of Teneo, who are administrator of TGI's, said, via The Mirror: "The casual dining sector has been adversely impacted by well-publicised pressures on discretionary spend.

"This transaction with Breal Capital and Calveton UK preserves a significant proportion of jobs and will hopefully provide the business with the stability and support it needs to recover and grow.

"We thank all employees and other key stakeholders for their support at this difficult time."

Union representatives have slammed the move to immediately close over a third of the brand's restaurants.

Bryan Simpson, of Unite Union, said: "To close venues and lock people out of their workplace with absolutely no notice is a moral outrage."

Full list of TGI Friday's restaurants set to close

Barnsley

Birmingham

Bracknell

Brighton Marina

Bristol Cabot Circus

Cardiff Newport Road

Chelmsford

Cheltenham

Croydon

Derby

Dundee

Durham

Edinburgh Fort Kinnaird

Enfield

Gateshead

Gloucester Quays

Halifax

Jersey

Leeds

Leeds Trinity

Leicester

Lincoln

Manchester Royal Exchange

Newcastle Eldon Square

Newport

Northampton

Prestwich

Romford

Sale

Solihull

Southampton West Quay South

Speke

Sutton Coldfield

Swansea

Watford North