All Tasty articles
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NewsTasty improves profitability despite revenue drop
The operator of Wildwood and Dim T restaurants achieved revenue of £19.1m for the half year to 30 June 2024 – a decline of 12%, however operating profit improved over the period, from a loss in 2023.
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NewsTasty forecasts uplift in profitability
As part of a restructuring plan, the group renegotiated seven rent agreements and exited 19 loss-making sites sites
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NewsTasty restructuring plan approved by creditors
The loan and restructuring plan are expected to stabilise the Wildwood and Dim-T operator, while ensuring its transformation to meet new opportunities in FY25
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NewsTasty reveals 14 site closures
The business will shut 13 Wildwood restaurants and one Dim T as part of its restructuring plan, which will see it exit 20 loss-making sites in total
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NewsTasty losses widen
The Wildwood and Dim T operator reported a 0.9% increase in revenue to £21.7m, with loss after tax increasing to £2.7m in H1 2022
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NewsTasty appoints new FD
Gordon Browne, who has worked as FD at Oakman Group and Chopstix Group, joins the Wildwood and Dim T operator
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NewsTasty selling two sites, considering further closures
The group is also considering converting further Wildwood restaurants to its dim t brand following a successful rebrand in Loughton
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NewsTasty CFO to step down
Mayuri Vachhani is to step down from her role and leave the restaurant group on 31 March 2023 in order to pursue other opportunities, with Ian Davies appointed as her replacement.
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NewsTasty faces ‘severe headwinds’
The Wildwood operator reported a loss after tax of £2.7m, as it warned inflationary pressure on labour, food and utilities was impacting the business “considerably”
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NewsTasty repays bank loan early
The Wildwood operator has done away with its £1.25m facility with Barclays, and believes it is in a strong position to open five to six new sites in 2022, with one currently under offer
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NewsTasty appoints Harald Samúelsson as exec director
Formerly an independent non-exec director, Samúelsson takes up his new role with immediate effect, with Wendy Dixon appointed as a new independent non-exec director
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NewsTasty ‘cautiously optimistic’ about estate expansion
The operator of Wildwood and dim t restaurants said it expects to open around five to six new units this year, in a “measured expansion plan”, following a profit turnaround last year
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NewsTasty EBITDA positive
The Wildwood restaurant operator plans to open five or six new units this year
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NewsTasty sees losses reduce as summer trade boosts balance sheet
Tasty said it now had “a viable platform” on which to build a successful business following support from creditors, landlords and government, as it reported a +33% uplift in revenue for the half year to 27 June 2021.
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NewsTasty negotiates favourable lease terms for majority of restaurants
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.
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NewsSamúelsson joins Tasty board
Tasty, the owner and operator of Wildwood restaurants, has appointed Harald Samúelsson joins Tasty boardas an independent non-executive director.
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NewsTasty banks on further landlord support as losses widen
Tasty is negotiating with landlords in a bid to avoid implemented a CVA or similar formal procedure, as the impact of lack of trading continues to impact its financial position.
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NewsTasty achieves rent reductions and concessions on more than half of estate
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).
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NewsTasty: “An extremely difficult year”
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.”
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NewsTasty completes workforce cut back, continues to explore cost-cutting options
Wildwood operator Tasty has completed the process of reducing its workforce by 32%, making 284 staff redundant.