Tasty PLC (LON:TAST) has shut all 56 of its Dim T and Wildwood eateries after the UK government called for the closure of all restaurants, pubs and bars to limit the spread of coronavirus.
AIM-listed Tasty said it was offering takeaway and delivery services from the restaurants where this was available, and would do so until the government advised otherwise.
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Dim T and Wildwood are offering free takeaway meals to NHS and emergency services staff and are “taking measures to ensure staff retention where possible”.
While it had a £2.9m net cash buffer at the end of last year, the group said it will cut costs and capital expenditure, while also seeking preferential terms from landlords and suppliers as well as using government support for employees' pay and VAT and business rate holidays.
The board said: “assuming it is successful in implementing the cost cutting and cash preservation measures referred to above, it has sufficient financial resources for the foreseeable future”.