Tasty to open five or six restaurants this year

By Restaurant

- Last updated on GMT

Image: wildwoodrestaurants.co.uk
Image: wildwoodrestaurants.co.uk

Related tags Casual dining R200 Multi-site Tasty Dim T Wildwood

The company behind the Wildwood and Dim T restaurant brands plans to open five or six new restaurants this year as well as renew its focus on delivery and takeaway.

In a trading update for the 52 weeks to 26 December 2021, Tasty said that an increase in staff following the relaxing of Omicron restrictions will enable it to refocus on takeaway and delivery, which had become secondary to the dine-in trade because of staff shortages.

The group posted revenues of £34.9m in 2021, an increase of 44% year-on-year with 33 weeks dine-in trading. Its 2021 revenue represented 78% of the company’s 2019 revenues of £44.6m, despite having fewer venues open, it said.

Tasty currently operates 50 restaurants across its Dim T and Wildwood estates with four restaurants currently closed. In the past year it has refurbished some of its older sites and increased outside seating across the estate.

It is currently in negotiations to dispose of, or rear-gear, two or three of its restaurant leases.

Adjusted EBITDA is expected to be around £8m, up from £2.7m in 2020, with cash at the year-end standing at £11m.

The company has warned of challenges as a result of the end of Government support including VAT and business rates.

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