LONDON—British coffee and sandwich chain Pret A Manger said on July 6, it will not reopen 30 UK shops after the coronavirus lockdown and could cut around 1,000 jobs, reflecting a major hit to customer demand from the crisis.
Pret, owned by investment group JAB Holdings, runs about 550 shops across 10 markets. In the UK it has 410 shops, 339 of which have reopened. Out of a global workforce of 13,000, some 8,000 are employed in the UK.
The group said it has faced “significant operating losses” following the outbreak of the pandemic, with sales across UK shops down 74 percent year-on-year.
It said it was experiencing a much slower recovery in the UK compared to the other countries in which it trades.
A consultation with shop teams and support staff will start this week, and no final decisions will be made until the consultation is complete.
The 30 shops that will not reopen employ 330. Chief Executive Pano Christou said in an interview with the Financial Times that job losses “could be 1,000 plus”.
Pret also plans to sell the lease of its main support office in central London and is in talks with landlords across its estate over a more sustainable leasehold model.
“We cannot defy gravity and coRead More – Source