Tasty, the Wildwood operator, has placed an eight-strong package of sites on the market, MCA has learnt.
The AIM-list company, which last month announced its was cutting its openings programme and warned that headline operating profit was likely to fall in a ‘challenging’ 2017, is understood to have appointed Davis Coffer Lyons (DCL) to market the sites that operate under its Wildwood and Wildwood kitchen formats.
The package comprises the Wildwood sites in Kingston, Chichester and Clifton, Bristol; plus the Wildwood Kitchen units in Hereford, Worcester, Ludlow, Ilkley and Abingdon.
Rents per annum for the units range from £39.5k to £100k.
The company currently operates 63 sites – seven Dim T and 56 Wildwood.
The group reported a pre-tax loss of £848,000 for the year to 1 January 2017 after taking into account all non-trade adjustments – including impairments against a number of sites – compared to profit of £2.5m last year.
It said that post-year end trade had been below expectations and as a result the openings pipeline had been reduced from 15 to seven.
During the year the group undertook a comprehensive review of its estate and implemented turnaround strategies at several sites in an effort to bring performance of these restaurants in line with the rest of the estate.
The group also overhauled its central kitchen infrastructure and made key appointments in operations, marketing, finance and HR departments to support future growth.