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Hi there,

Quick one today.

TGI Friday’s is on the ropes.

Well, the UK franchisee in Hostmore (MORE) is.

This shouldn’t come as a surprise if you’ve eaten there. Because it’s rank.

And I’m no food snob.

I’m just has happy in a Nando’s as I am in a Michelin.

But TGI Friday’s is a tired brand that needs putting down.

It’s one of the most recognised brands in the UK in terms of hospitality, but that means nothing if you can’t get people through the doors.

And there was a staggering -23% like-for-like (LFL) drop in July.

In June, the Euros and the ‘unseasonably warm weather’ were blamed, as if the sun coming out during summer is somehow a huge surprise.

OK, to be fair, it is the UK.. But this is now a solid code red.

I’ve highlighted the negatives with “borrowings set to exceed existing borrowing capacity” (not good) and “in discussions regarding additional financing” (definitely not good).

If you know that the company is looking for more funding.

And you know that it’s in a bit of a pickle, to say the least..

Why on earth would you go anywhere near this stock?

It’s for the gamblers and dreamers now.

Hvivo (HVO)

I remember meeting with the former CEO here Cathal Friel.