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Dim T owner Tasty axes 284 jobs
3rd Jul 2020 13:17
(Sharecast News) - AIM-listed restaurant operator Tasty said on Friday that it has made around 284 staff members redundant as footfall at its restaurants is expected to fall after reopening.
The cuts at Tasty - which owns the dim T and Wildwood restaurant chains - represent around 32% of the total workforce. They have been made across the group's restaurants and head office.
"Further to the company's announcement on 26 June 2020 regarding the phased opening of a limited number of sites over the next few weeks, given the anticipated drop in footfall due to the continuing restrictions imposed as a result of Covid-19, the board has come to the difficult decision that staff numbers need to be reduced accordingly," it said.
Tasty said it's looking at ways to minimise costs and strengthen the balance sheet, including the possibility of new debt and/or equity capital. It is also discussing terms with landlords and trade creditors.
The cuts at Tasty - which owns the dim T and Wildwood restaurant chains - represent around 32% of the total workforce. They have been made across the group's restaurants and head office.
"Further to the company's announcement on 26 June 2020 regarding the phased opening of a limited number of sites over the next few weeks, given the anticipated drop in footfall due to the continuing restrictions imposed as a result of Covid-19, the board has come to the difficult decision that staff numbers need to be reduced accordingly," it said.
Tasty said it's looking at ways to minimise costs and strengthen the balance sheet, including the possibility of new debt and/or equity capital. It is also discussing terms with landlords and trade creditors.