TGI Fridays in the UK is being put on the menu for prospective buyers, following a downturn in sales across the casual dining sector.

Owner Electra Private Equity is calling in City advisers to work on potential options for the American-themed restaurant chain, as reported by Sky.

The company has seen a fall in recent months, amid pressure on the restaurant sector from high street and delivery-based rivals.

TGI has more than 80 restaurants in the UK, including Cheltenham and Gloucester Quays. Started in New York in 1965, it arrived in Britain in the 1980s.

While a sale is one option, Electra is also looking into the possibility of acquiring rival chains which have been hit by financial problems. Many of the UK's best-known restaurant chains have been hit hard by higher labour, property and commodity costs.

Last year, Handmade Burger Co went into administration, while companies including The Restaurant Group - which owns Garfunkel's and Frankie & Benny's - have been forced to change their leadership teams in an attempt to revive their fortunes. Italian-themed chain, Prezzo, is reported to have hired financial advisers to work on a restructuring.

Punchline says: Will it go for a tasty price?