The founder of Fulham Shore and former Pizza Express boss David Page is in talks to join the board of Tasty, the London-listed restaurant group behind the Wildwood and Dim T brands, as part of a potential rescue deal.

Tasty confirmed on Monday that discussions had taken place with Page, as well as Fulham Shore’s finance director Nicholas Wong, as the company explores strategic options to stabilise its business and secure new investment.

It follows a report from Sky News suggesting Page is seeking almost £10 million in funding from institutional backers to support a turnaround plan. The deal could see him take on the role of executive chairman and rebrand the company as Bow Street Group on the stock exchange.

The firm, which operates 36 restaurants, has seen its share price hit record lows in recent weeks amid falling revenues and ongoing restructuring. On Monday, shares surged by 81 percent to 1p following confirmation of the talks, valuing the business at just under £2 million.

Tasty has already closed 18 underperforming sites over the past year as part of cost-cutting efforts. Revenues were down 21.9 percent in the last financial year, prompting the company to evaluate further funding options, including a possible equity placing.

The group said it continues to assess how best to move forward, but has not yet confirmed the structure or timeline for any potential agreement.

If the deal proceeds, it would mark a return to the sector for Page, who built Pizza Express into a major national brand and more recently led the expansion of Franco Manca and The Real Greek through Fulham Shore.