By Adria Calatayud
Tasty PLC said Tuesday that its performance has benefited from significant pent-up demand after the lifting of coronavirus restrictions and that it expects activity to remain strong throughout the summer months.
The U.K. restaurant company said 49 of its 54 sites are now fully open, and that like-for-like sales have been higher than in 2019 since the relaxation of indoor-dining restrictions.
The company said its board believes travel restrictions, increased disposable income and a general strong desire to go out will help its summer performance.
Tasty said it is taking measures to combat supply-chain disruptions, recruitment issues, wage inflation, the reintroduction of business rates, and the reduction in furlough and VAT support. Tasty has agreed to lease concessions and rent reductions on more than 80% of its estate and is in talks with the remaining landlords and other creditors to settle outstanding debts.
Write to Adria Calatayud at adria.calatayud@dowjones.com
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June 29, 2021 at 01:42PM
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