** Shares of Hostmore plunge more than 70% to a record low of 2.80p, stock top pct loser across London
** British restaurant operator says it has dropped plans to buy pub chain TGI Fridays after it was removed as the manager of TGIF Funding, which owns the right to collect royalties from the TGI Friday franchise
** Co, which operates TGI Fridays in the UK via its unit, Thursdays $(UK)$, also says the sale of its corporate stores is expected to be completed in September, albeit at a lower value than the loans held by Thursdays
** Including session's losses, stock down about 88% YTD
(Reporting by Aby Jose Koilparambil in Bengaluru)
((abyjose.koilparambil@thomsonreuters.com))
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