Tasty Plc – the owner of the Dim T and Wildwood brands – said it now has a large part of its estate open for takeaway but will continue to lean on government support wherever available.
Giving its first trading update since the third national lockdown required all restaurants to shut for dine-in, the company said it had managed to open approximately 38 units for takeaway and delivery services only.
Tasty previously announced that it has achieved rent reductions and lease concessions on more than half of its estate.
It is now continuing consensual negotiations with landlords and other creditors in respect of outstanding rents and, given the current lockdown, anticipates this process won’t get concluded until March at least.
It said it will again be relying on government support for employees’ pay and VAT, and business rate holidays and grants, where available.
It also confirmed that a bank facility secured in order to strengthen the company’s balance sheet and provide additional working capital support has now been drawn down by the company.