Wildwood restaurant owner reports ‘disappointing’ Christmas trading
2 January 2025, 09:04
Tasty, which also runs sites under Dim T brand, previously said it had been impacted by tough conditions over the half-year to September.
The restaurant firm behind the Wildwood chain has revealed it saw “disappointing” sales in the run-up to Christmas.
Tasty, which also runs sites under Dim T brand, previously said it had been affected by tough conditions over the half-year to September.
It told shareholders on Thursday that more recent trading has “continued to be challenging” amid further pressure on consumer finances.
“In these uncertain times, the board is maintaining a cautious outlook,” the company said in a statement.
The group, which runs 32 restaurants under the Wildwood brand, said it comes as the hospitality sector contends with “several adverse factors, including a decline in consumer confidence and a discernible decline in discretionary spend”.
It is also set to be hit by the increase in the National Living Wage and higher National Insurance contributions from April 2025, which were announced in the autumn Budget.
Last year, Tasty shut 18 of its restaurant sites after experiencing a challenging start to 2024.
The group shut the venues as part of a restructuring plan aimed at focusing on its stronger performing sites.
On Thursday, the casual dining business also revealed that it has secured a settlement related to an insurance claim following the Covid-19 pandemic.
Tasty told investors it has agreed a settlement worth £2.5 million with its insurer, comprising of £1.5 million plus creditor and legal costs.
It said the settlement, which it will receive within 21 days, related to a claim for breach of a contract for insurance for losses arising in 2020.
