Restaurants operator Tasty Plc (LON:TAST) lost around one-eighth of its market value after it warned it expects a further deterioration in trading conditions.
The shares fell 4.04p to 26.96p after the company, which issued a profit warning in August, said trading in 2017 had been in line with revised expectations.
READ: Investors left with sour taste in their mouths as restaurant owner Tasty warns on industry outlook again
The restaurateur continues to make progress on its plans to dispose of restaurants, having offloaded four underperforming sites and done a sale-and-leaseback deal on one other, netting £2mln from these transactions.
Two more sites are currently under offer and should be sold in the coming months.
READ: Restaurant owner Tasty leaves bad taste in investors' mouths after profit warning
Adding to the sense of unease about the company, finance director Timothy Cundy has handed in his resignation. Tasty has identified a replacement bean counter with a background in the restaurant trade.