A family restaurant chain owner with 54 branches has announced that 18 sites are to shut, amid the ongoing hospitality crisis.
Tasty PLC, the owner of Wildwood and Dim T restaurants, will close 20 venues. It blamed the cost of living crisis, strikes and interest rate rises for the closures
'As previously reported, the cost-of-living crisis, transportation strikes, and interest rate rises continued to significantly impact FY23 revenue and inflationary pressure on labour, food and utilities continue to adversely affect profitability.' This comes as they announced yesterday that Tasty expects to confirm revenues of around £46.9million for 2023, up from £44million in 2022
Tasty currently operates 43 Wildwoods and six Dim-T pan-Asian restaurants, as well as two non-trading sites and three sub-let venues.
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