Karen Forrester, managing director of TGI Friday’s UK, has said that it is business as usual for the group, as parent company Carlson explores its options for the brand, which could include a sale of the business.
She told M&C Report that if the group, which has seen 16 consecutive quarters of like-for-like sales growth, did find itself with a new investor it would be “great news” and could lead to further investment behind the brand.
Her comments came as she revealed that the group’s staff turnover currently stood at 38% against an industry average of 90% and against the 150% figure the group experienced six years ago.
She said: “We have a great relationship with Carlson since they took full control over five years ago, but if a new investor does come in I would see that as great news as it means there should be more investment in the development and growth of the brand.
“In a mature market we have generated 16 consecutive quarters of like-for-like sales growth and we have on average an 18-month return on investment period.”
Forrester said that the impressive staff turnover figure was down the continuing hard work that the group has put in to make sure staff are embedded in the brand’s DNA and aligned to the journey the business was on.
She said: “The recent five-star hygiene achievement is a good example of an output coming from the standards we are striving for across the estate, not something we aimed for. Everything we do is done to endorse the culture of excellence we are building through a people-led strategy.”
