Tasty PLC Statement re: Redundancies (0220S)
July 03 2020 - 7:02AM
UK Regulatory
TIDMTAST
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 Tel: 020 7397 8900
MacRitchie
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.
END
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