Connect with us

Hi, what are you looking for?

World News

Overseas travel ‘ban’ boosts Tasty restaurants

International travel restrictions may be causing havoc to airlines and tour operators, but they are helping to get Britain’s restaurants back on their feet.

Tasty, the Aim-listed operator of the Wildwood and dim t brands, issued a trading update yesterday citing the effective overseas travel ban as a factor in the strong sales in its outlets since the easing of lockdown restrictions.

It added that “as a result of international travel restrictions, increased disposable income and a general strong desire to go out, we believe trade will remain robust throughout the summer months”.

During the most recent lockdown, the company kept the tills ticking over and some of its workforce occupied by introducing a takeaway and delivery service. It said that this had performed well and had continued to do so since the resumption of indoor trading on May 17. It is rolling out two new takeaway-only brands: Out the Box and Out the Box Asia.

Last month, Tasty reopened 49 of its 54 restaurants and in the six-week period to June 27 they achieved strong like-for-like sales growth compared with 2019.

“Trading has benefitted from significant pent-up demand and we are encouraged by the initial strength of our overall trading performance despite the restricted capacity due to social distancing,” it said.

Last year, Tasty laid off 284 people — almost a third of its workforce — and was said to be considering a company voluntary arrangement as a way of cutting its onerous rent obligations. However, it confirmed yesterday that it had agreed consensual lease concessions and rent reductions on more than 80 per cent of its estate and continued to negotiate with the rest on settling outstanding debts.

It is also seeking to take on extra staff, partly through the use of an apprenticeship scheme and the government’s Kickstarter scheme for young people, although Jonny Plant, Tasty’s chief executive, said it was not easy. “We’re desperately looking to recruit but it’s something of a challenge,” he said.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Stock

Stock Markets25 minutes ago (Jul 16, 2021 05:46PM ET) (C) Reuters. FILE PHOTO: Johnson & Johnson’s Neutrogena Cool Dry Sport sunscreen, which is part...

Tech

Builders, creators and developers, this one’s for you! TechCrunch has always been about discovering fresh solutions and shining the light on exciting, new products...

Disclaimer: Wisegazette.com it's managers and its employees (collectively "The Company") do not make any guarantee or warranty about what is advertised or above. Information provided by this website is for research purposes only and should not be considered as personalized financial or health advice. Copyright © 2021 Wise Gazette. All Rights Reserved