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TAST - Tasty News Story

2.1p -0.2  -8.5%

Last Trade - 8:20am

Sector
Consumer Cyclicals
Size
Micro Cap
Market Cap £3.25m
Enterprise Value £327k
Revenue £44.6m
Position in Universe 1703rd / 1816

Tasty PLC - Statement re: Redundancies

Fri 3rd July, 2020 1:02pm
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.


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
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