You are here: Home - Household Bills - News -

Pret A Manger to close 30 stores

0
Written by: Emma Lunn
06/07/2020
At least 1,000 jobs are at risk at the food chain which has suffered "significant operating losses" due to Covid-19.

The coffee chain plans to close 30 of its 410 UK outlets before the end of the year as part of a post-pandemic restructuring.

Pret has reopened 339 shops after lockdown but sales are 74% lower compared to the same point last year. The business said its recovery in the UK was “much slower” in comparison to the other countries it trades in.

Pret will begin a consultation process with employees this week. It also plans to reduce the number of workers in the outlets which remain open, and restructure support teams.

Pano Christou, Pret A Manger chief executive, says: “When the coronavirus crisis hit, we said that our priority was to protect our people, our customers, and of course Pret. We confirmed it was our intention to do everything we could to save jobs.

“Although we were able to do that through the lockdown, thanks in particular to the government’s vital support, we cannot defy gravity and continue with the business model we had before the pandemic. That is why we have adapted our business and found new ways to reach our customers.

“While Pret may look and feel different in the short term, one thing I know is that we will come through this crisis and have a bright future if we take the right steps today.”

The news comes the week after 5,000 job losses at SSP Group, which owns train station and airport food outlets Upper Crust and Caffe Ritazza, were announced.

Burger chain Byron also filed a notice of intention to appoint administrators.

Last week also saw Casual Dining Group, which owns Bella Italia and Café Rouge fall into administration. American hedge fund Elliott Advisers is rumoured to be interested in buying the group.

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

The savings accounts paying the most interest

It’s time to get your finances in shape, and moving your cash savings to a higher paying deal is a good plac...

Everything you need to know about being furloughed

Few people had heard of ‘furlough’ before March 2020, but the coronavirus pandemic thrust the idea of bein...

The experts’ guide to sorting out your personal finances in 2021

From opting to ‘low spend’ months to imposing your own ‘cooling-off period’, industry experts reveal t...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week