Tasty PLC Trading Update (6913I)
December 15 2020 - 4:41AM
UK Regulatory
TIDMTAST
RNS Number : 6913I
Tasty PLC
15 December 2020
15 December 2020
Tasty plc
("Tasty" or the "Company")
Trading Update
Further to the Company's most recent Trading Update on 6
November 2020 detailing the closure of all of its restaurants for
in-store dining due to the second UK COVID-19 lockdown, the Company
confirms that it had re-opened 38 restaurants with an additional 5
units providing takeaway and delivery services only, due to the
Government restrictions. It is expected that a further 9 units will
move to providing takeaway and delivery services only with the
additional tier 3 restrictions being introduced in London and Essex
on 16 December 2020.
Certain restaurants within the Company's estate have remained
closed due to poor trading conditions in their locality. The
Company continues to monitor developments affecting both the open
and closed restaurants in line with the continually changing UK
tier restrictions. The Company intends to continue to offer
takeaway and delivery services across the 43 open units, until such
time as the Government announces that it is prohibited from doing
so or it is not viable to continue those services.
Trading across the business continues to be challenging with
Christmas parties cancelled and the differing levels of
restrictions significantly reducing the number of customers eating
out and related restaurant capacity restrictions.
The Company has now been successful in achieving rent reductions
and lease concessions on more than half of the estate. The Company
is continuing consensual negotiations with landlords and other
creditors in respect of outstanding rents and anticipates that this
process will now be completed in January 2021. The Company will
again be relying on Government support for employees' pay and VAT,
and business rate holidays and grants, where available.
The Company will make further announcements, as appropriate.
For further information, please contact:
Tasty plc Tel: 020 7637 1166
Jonny Plant, Chief Executive
Cenkos Securities plc (Nominated adviser
and broker)
Mark Connelly / Katy Birkin Tel: 020 7397 8900
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END
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