The American-themed restaurant giant's UK owner Hostmore is to be wound down in a move that could wipe out its shareholders.

The firm previously revealed it had dropped plans to buy the United States restaurant chain for £177 million, and its shares then plummeted by more than 90%.

Now in a bid to survive and become a fully franchise-operated model, all 87 TGI Fridays UK restaurants are up for sale.

This includes the Buchanan Street restaurant in Glasgow city centre as well as the Glasgow Fort, Silverburn and Braehead spots. 

It is not clear whether all or some will be bought and if some may close or stay open. 

Russ Mould, investment director at AJ Bell, said it is “effectively game over for Hostmore as a listed business”.

He added: “The company’s share price crashed 90% after an expansion plan went up in smoke, implying there is little to no value left in the listed business for shareholders.”

Hostmore also revealed that UK sales have fallen by more than a 10th this year, compared with last year.

Over the first three weeks of July, sales dropped by nearly a quarter compared with the same period in 2023, as it was affected by warmer weather resulting in fewer visitors and continued weaker consumer spending.

We previously reported that Hostmore had taken the decision to get rid of its other brand  63rd+1st, a New York-inspired bar on Glasgow's Bothwell Street.

The closure in Glasgow followed three other venues in Cobham, Harrogate and Edinburgh.

Below is the full list of TGI Fridays restaurants for sale:

Aberdeen Beach

Aberdeen Union Square

Ashton-under-Lyne

Barnsley

Basildon

Birmingham

Birmingham NEC

Bluewater

Bolton

Bournemouth

Bracknell

Braehead

Braintree

Brighton Marina

Cabot Circus

Cardiff Newport Road

Cardiff St David's

Castleford

Cheadle

Chelmsford

Cheltenham

Cheshire Oaks

Coventry

Crawley

Cribbs Causeway

Croydon

Derby

Doncaster

Durham

Edinburgh

Enfield

Fareham

Fort Kinnaird

Gateshead

Glasgow Buchanan Street

Glasgow Fort

Gloucester Quays

Halifax

High Wycombe

Jersey

Lakeside Quay

Lakeside Retail Park

Leeds Junction 27

Leeds Wellington Bridge Street

Leeds White Rose

Leicester

Lincoln

Liverpool One

Liverpool Speke

London Leicester Square

London Stratford City

London the O2

Manchester Royal Exchange

Meadowhall

Metro Centre Gateshead

Milton Keynes

Milton Keynes Stadium

Newcastle Eldon Square

Newport Friars Walk

Northampton

Norwich

Nottingham

Prestwich

Reading

Romford

Rushden Lakes

Sale

Sheffield

Silverburn

Solihull

Southampton Retail Park

Staines

Stevenage

Teesside

Telford

Trafford Centre

Trinity Leeds

Walsall

Watford Central

Watford North

Wembley

West Quay