David Page seeks £10 million investment to transform Tasty restaurant group

In the United Kingdom, Tasty, the restaurant firm responsible for the Wildwood chain, is currently pursuing a collaboration with David Page, a well-known figure in the restaurant industry. Talks are underway regarding an agreement that may lead to Page joining the company’s board. This development comes at a critical time, as Tasty has faced significant challenges, including a considerable drop in share prices and revenues over the past year. The company's market capitalisation has fallen to just under £2 million, following a revenue decline of 21.9% attributed to a restructuring effort, which also involved closing 18 restaurants last year to refine their business operations. David Page, who formerly led Pizza Express and is linked with Franco Manca's parent company, The Fulham Shore, views this engagement as an opportunity to turn around Tasty's fortunes. He is looking to secure nearly £10 million in funding from institutional investors, which is seen as pivotal for revitalising the brand and restoring investor confidence. Additionally, Tasty has been evaluating various funding options, possibly including raising capital through an equity placing as part of this restructuring initiative. As part of the proposed deal with Tasty, Page is expected to take on a prominent role, possibly as executive chairman, and the company may even consider rebranding itself as the Bow Street Group on the London Stock Exchange. This strategic move aims to signify a fresh start for the struggling restaurant group and indicate a shift in management style, which may attract interest from investors weary of the current state of the business. The challenges faced by Tasty reflect wider issues within the hospitality industry, exacerbated by changing consumer habits and increasing competition. It will be essential for the company to not only secure the proposed investment but also to have a robust operational strategy to reverse its financial decline and engage effectively with its customer base moving forward. The outcome of these negotiations could be crucial for Tasty's future in London's competitive restaurant landscape.