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Tasty hard to swallow for investors after second trading warning
Shares in restaurant owner Tasty fell almost 9% on Tuesday as the company warned of a "further deterioration" in 2018 trading.
The company said trading for 2017 was in line with expectations.
It added that it had offloaded four underperforming sites and undertaken a sales-and-leaseback of one further site with net proceeds from these transactions totalling £2m.
It said two further sites are currently under offer and are expect to be disposed of in the coming months.
Tasty also announced that it had accepted the resignation of Timothy Cundy as Finance Director.
Cundy will serve three months' notice and will continue his responsibility for the 2017 year end financial statements and audit,Tasty said, adding that it had identified a replacement with "significant sector experience".
The shares were down 2.76p to 28.24p at the close.