By M&C Report team2007-07-30T11:31:00+01:00
Travel hub operator SSP has simplified its menus by up to 50-60% during the pandemic, which could result in smaller menus remaining post-covid, according to an analysts’ note by Peel Hunt.
Wildwood operator Tasty has achieved rent reductions and lease concessions on more than half of its estate, two months after it announced it was exploring a potential company voluntary arrangement (CVA).
Tasty, which owns the Wildwood brand, has said sales fell £8.7m from £21.1m in the prior year and it made a loss after tax of £11m. It has 48 of its 55-strong estate open. It said 2020 has been an “extremely difficult year which required swift action to mitigate the extraordinary challenges faced. Tasty was quick to react to the Covid-19 outbreak. Whilst the trading environment continues to be extremely challenging and ever-changing, with the additional bank facility and support from our creditors and landlords, we are hopeful that we will be able to navigate our way through these difficult times due to our agility and restructured operational base.”
TGI Friday’s has performed strongly despite the turbulent trading conditions of 2020, according to parent company Electra Private Equity, with several new openings in the pipeline.
Gordon Ramsay has said the pandemic has so far cost his restaurant business close to £60m in lost revenue.
Brighton-based fried chicken concept Bok Shop plans to open a further 10 sites in the next two years following a significant private equity backing.
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