The casual dining group confirmed the talks in an update to the London Stock Exchange, adding that it is ‘evaluating funding options with a view to investing in future strategic opportunities for the Company, which may involve an equity placing’.
It follows a Sky News report that Page is seeking to raise £10m of new funding as part of a deal that would see him installed as executive chairman of Tasty.
Under the deal, the group would be renamed Bow Street Group on the London Stock Exchange.
According to Sky News, Nick Wong, who worked alongside Page when he led The Fulham Shore, would become Bow Street Group’s finance chief if the plan is successful.
Tasty confirmed in its statement that it had also held discussion with Wong.
It comes after the group received approval from its creditors and landlords last year to carry out restructuring plans that saw it close 16 restaurants.
Sky News further reports that Tasty would review its existing estate as well as acquire a cash shell owned by Page and his associates as part of the deal.
It would then seek to acquire and act as an incubator for other hospitality brands.
As part of the fundraising plans, existing and proposed board members would commit more than £1m to a share placing.
Cavendish and Alleby Capital are coordinating the fundraising.
Tasty reported a 21.9% decrease in revenue year-on-year in its most recent financial results for the year ended 29 December 2024, falling from £46.9m in 2023 to £36.6m as a result of the restaurant closures.
However, profit after tax for the period was £16m, up from a loss of £14.5m the year before.
Tasty operates 32 restaurants across the Dim T and Wildwood brands.
Back in April the group reintroduced the Covid-era Eat Out To Help Out (EOTHO) promotion in a bid to ‘kickstart a revival’ in trade across its estate.