Wildwood restaurant operator given all-clear to close 23 sites

Wildwood and Dim T owner Tasty has been given the go-ahead to give up leases on 23 sites.

Its restructuring plan proposals were put forward in a court hearing and have been sanctioned. It will mean its estate will be reduced from 54 sites to 31 sites, with the closure of 18 sites and the surrender of an additional two leases on previously closed sites and three sub-let sites.

Tasty said that as a result of the acceptance of the restructuring plan and head office savings of £600,000, along with a loan of £750,000, it would be placed to deliver an improvement on earnings before interest, taxes, depreciation and amortization of up to £2.1m between 2023 and 2025

It said: “The loan and restructuring plan are expected to stabilise the company in full-year 2024 and ensure transformation to meet new opportunities in the sector in full-year 2025 beyond existing operations, including exploring new audiences, new concepts and potential partnerships.”

Tasty’s Wildwood restaurants serve pizza, pasta, burgers and steak and occupy a number of heritage buildings.

The Dim T brand trades from six sites and serves over 20 types of handmade dim sum.