Tossed's CVA proposal approved by creditors
The proposal, its owner says, will provide “breathing space” and “strong foundations”.
The owners of healthy fast food chain Tossed announced the creditors’ approval of its company voluntary agreement (CVA) proposal submitted last November.
The proposal, written with the aid of David Rubin & Partners, came about the need to protect the company’s Tossed brand after its “unavoidable” restructuring due to Vital Ingredients’ underperformance.
"This has been an extremely difficult time for the company, but the CVA provides breathing space, and ultimately strong foundations for continued growth in the Tossed brand in the future,” Zest Food managing director Neil Sebba said in a statement.
“Our focus on technology in Tossed has been proven to stand the brand ahead
of its peers, and we look forward to refocusing on that next year," he added.
Zest Food sees no immediate store closures and expects to convert all its viable stores into Tossed in 2020.
The company runs 16 Tossed stores and eight Vital Ingredient outlets across central London.
