Pret to shut 30 shops and slash jobs
PRET A Manger is to axe up to 1,000 jobs and permanently shut 30 shops after suffering significant losses in the coronavirus crisis.
The food chain has already reopened 339 out of its 410 UK shops, but footfall remains down and sales are 74pc lower when compared to the same point last year. A total of 330 people will be made redundant as a result of the 30 store closures, and staff will also be consulted about cuts in other shops and its support centre.
Around 1,000 jobs are understood to be at risk as well as the 330 immediate losses.
The redundancies are the latest in a brutal round of layoffs, with more than 12,000 job cuts announced by major firms last week alone. Just last week, the owner of Bella Italia and Café Rouge, Casual Dining Group, revealed it had axed 1,900 jobs after falling into administration, leading to the closure of 91 sites.
Administrators at AlixPartners are now in talks with potential suitors to find a buyer for all or part of the company.
US hedge fund Elliott, owned by Paul Singer, is said to have made an offer for the entire business, Sky News has reported.