REG - Tasty PLC - Statement re: Redundancies

TastyAnnouncement

03/07/2020 13:05

RNS Number : 0220S
  
Tasty PLC
  
03 July 2020
  
 

3 July 2020
Tasty plc
("Tasty" or the "Company")
 
Statement re redundancies
 
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. Consequently, some 284 staff members (representing approximately 32 per cent. of the total workforce) have been made redundant across our restaurants and Head Office.  Clearly, this decision has been very difficult for everyone involved and throughout this process our priority has been to support those that have been affected.
The board of directors is exploring ways to minimise costs and to strengthen the balance sheet including investigating the possibility of new debt and / or equity capital and also discussing terms with landlords and trade creditors. Further announcements will be made as and when 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 / Cameron MacRitchie


Tel: 020 7397 8900



 
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the EU Market Abuse Regulation (596/2014). Upon the publication of the announcement via a regulatory information service, this information is considered to be in the public domain.


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