Comptoir Group plc (LON:COM) said it is in a “reasonably healthy” cash position with “minimal” bank debt while all its venues are shuttered following lockdown rules.
The Lebanese restaurant owner deferred all rent payments for the three months to June, postponed all non-essential capital expenditure, including a new site opening, and cut directors’ salaries.
The governmental business rates relief will save the firm £1.4mln over 12 months.
The owner of Comptoir Libanais and Shawa restaurants is also applying for state support to pay furloughed employees.
In the year to 31 December, revenue dipped 3% to £33mln due to temporary extended closures for refurbishment at three London sites.
Loss before tax narrowed 20% to £520,000, while cash at year-end was £5mln.
The firm said it will not recommend a dividend in line with previous years.
Shares rose 4% to 3.89p on Tuesday at the opening bell.