Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  News  >  Economy & Forex

News : Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

Pret A Manger closes more UK shops, cuts more jobs as trading dips

10/16/2020 | 07:54am EST
Outbreak of the coronavirus disease (COVID-19) in London

LONDON (Reuters) - British coffee and sandwich chain Pret A Manger said on Friday it would close six more shops and likely cut a further 400 jobs as trading had deteriorated in recent weeks as a result of government curbs to stem rising cases of COVID-19.

Owned by investment group JAB Holdings, Pret permanently closed 30 UK shops and cut 2,800 jobs, or a third of its workforce in August.

The firm said that over the last four months it had seen consistent sales growth, with consecutive weeks of trading progress since April. However growth has slowed since the end of September.

On Sept. 22 Prime Minister Boris Johnson told Britons to work from home where possible as infection rates increased.

Pret has 389 shops in the United Kingdom, with many located on high streets, at transport hubs and close to offices that are still largely deserted.

"The worsening rates of COVID-19 and the impact on trade in the City of London have meant Pret's recovery has suffered a setback," said Pret's UK managing director Clare Clough.

"The changes Pret is announcing today will enable Pret to continue to adapt through the winter."

To help it survive the crisis, Pret last month launched a subscription service for drinks.

It is also selling coffee beans through Amazon and has new partnerships with Deliveroo, Just Eat and Uber Eats.

Pret employs about 9,000 globally, including 6,500 in the UK.

(Reporting by James Davey, editing by Louise Heavens)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
AMAZON.COM, INC. 1.64% 3220.08 Delayed Quote.71.45%
JUST EAT TAKEAWAY.COM N.V. 0.43% 89.42 Delayed Quote.8.32%
Latest news "Economy & Forex"
05:15pHouse seen backing bill that could block Chinese firms from U.S. securities markets
RE
05:11pUtilities Recoup Some Losses, But Still Down For Year - Utilities Roundup
DJ
05:09pDisney consolidates TV studios as part of focus on streaming
RE
05:09pAutomakers pledge to work with Biden to reduce emissions
RE
05:09pLargest drop in terms of trade in a decade as dairy export prices sour
PU
05:09pCommunications Services Rise - Communications Services Roundup
DJ
05:09pSTATISTICS NEW ZEALAND : COVID-19 keeps a lid on international travel
PU
05:08pTech Rises Amid Stimulus Hopes, Micron Earnings -- Tech Roundup
DJ
05:06pFinancials Up On Stimulus Bets -- Financials Roundup
DJ
05:03pGENE YAW : Yaw Encourages Feedback, Participation on Proposed RGGI Rulemaking
PU
Latest news "Economy & Forex"