After submitting plans for a company voluntary arrangement (CVA), Zest Food, the parent company of salad fast food chains, Tossed and Vital Ingredient, has today secured the backing of its creditors to implement a rescue plan.
The move means that Tossed can continue to trade - currently there are 24 stores, but there are plans to exit from less favourable leases of certain sites.
Zest Food had blamed its issues on the decision to buy 13 Vital Ingredients branded stores which it bought out of administration last year. The group said the shops saw trading decline “significantly below expectations”.
All viable Vital Ingredient branches will be converted into Tossed stores, which remain in growth.
Tossed opened its first outlet in Paddington back in 2005, with the aim of making healthy eating exciting. Menus offer more than 20 made-to-order house recipe salads. Customers can also create their own salad from a choice of over 100 ingredients, and cold or hot bases.