Tasty PLC, the owner of Wildwood and Dim T restaurants, has announced plans to close around 20 loss-making venues due to a challenging start to the year. The closures are attributed to the cost of living crisis, strikes, and interest rate rises. The company has also secured a loan agreement to fund the restructuring.
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. 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 who first opened in 2004, has said it plans to close around 20 loss-making venues after a 'challenging' start to the year in a major restructuring plan.
The company said: 'The group has made reasonable progress since the year end and despite difficult recent trading conditions, management continue to navigate through challenging times to mitigate cost rises and lower trading performance. '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.' It also announced that to fund the restructure, the company has reached a loan agreement with Bet365 shareholder Will Roseff for up to £750,000. Tasty, the owner of Wildwood and Dim T restaurants has said it plans to close around 20 loss-making venues after a 'challenging' start to the year in a major restructuring plan This comes as they announced yesterday that Tasty expects to confirm revenues of around £4
Tasty PLC Wildwood Dim T Restaurants Closures Hospitality Crisis Restructuring Cost Of Living Crisis Strikes Interest Rate Rises Loan Agreement
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