Tasty has agreed consensual lease concessions and rent reductions on more than 80% of its estate and is continuing to negotiate with landlords and other creditor on any outstanding debts, it has said.

The owner and operator of Wildwood and Dim T restaurants said earlier this year that it was in the process of negotiating with landlords in a bid to avoid the need to implement a CVA or similar formal procedure as trading restrictions continued to impact its financial position.

In an update on the London Stock Exchange this morning (29 June), Tasty said that it had seen strong like-for-like sales growth in the six-week period to 27 June 2021, compared to 2019, and was confident that trade would remain robust throughout the summer months.

The business has reopened 49 of its 54 sites since indoor dining reopened last month, with the initial strength of its overall trading performance encouraging, despite the reduced capacity due to social distancing.

Takeaway and delivery has performed well for the group during the most recent lockdown and throughout H1 with good progress made on expanding the offer across all sites.

“We have been particularly pleased with the continued good performance of our takeaway sales which, even after dine-in reopened, have continued to perform well.

“Our rollout of our new takeaway sub-brands, Out the Box and Out the Box Asia, has progressed well and is contributing an additional revenue stream,” it said.

Tasty added that it had taken measures to combat the challenges ahead posed by supply chain disruption, recruitment and the reintroduction of business rates among other issues.

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