Tasty, the AIM-listed restaurant group, is rumoured to be asking shareholders about new equity funding as it looks to open 18 sites by the end of 2014, according to The Times.
The newspaper reports that Tasty, which operates the Dim T and Wildwood brands, is understood to be raising £2.5m via a placing from mainly existing investors for the expansion, which would be focused on Wildwood and Wildwood Kitchen.
The Times says that the 27-strong group is understood to have attracted a new institutional investors, possibly L&G.
Last month Tasty said it “continues to look at new sites” and “has the resources for further acquisitions” as it reported that its pre-tax profits more than doubled to £787,000 in the six months to 30 June.
