Chennai: Fresh meat and seafood brand Tendercuts plans store expansion as part of its revival strategy. The startup said it has improved its financial position after facing distress in 2022, during which it encountered challenges, including closing most of its stores and laying off employees. It was acquired by the NCR-based meat brand Good to GO in 2023.Tendercuts claims it has turned profitable and plans to expand its retail presence by adding 12 more stores this year. The company said it has achieved positive EBITDA (earnings before interest, taxes, depreciation and amortisation) at both the store and consolidated levels.Over the past year, the company has focused on strengthening unit economics, improving the supply chain, and restructuring store operations to build stability. It recently raised $2 million through debt from Lakme Finance and plans to use the capital to expand operations across core markets. Sasikumar Kallanai, co-founder and chief executive officer of Tendercuts, said this is a critical phase in the turnaround journey. “The focus over the past several quarters has been on building a disciplined operating model with clear visibility on profitability and capital efficiency. With that foundation in place, we are now positioned to scale in a measured and sustainable manner,” he said.
