Pret A Manger Cut 2,800 Jobs In Virus-Linked Restructuring

Pret a Manger Ltd. cut 2,800 jobs in U.K. shops, about a third of its store employees there, in the latest sign that the pandemic is hurting the retail industry.

Sales at British stores are down about 60% from a year earlier and are now roughly the same level as in August 2010, Pret said in a statement on Thursday. A further 1,000 U.K. positions have been saved as employees have taken fewer weekly hours, the company said.

Restaurants and other businesses that depend on walk-in business have been suffering around the world as countries use social restrictions to fight the pandemic. Chancellor of the Exchequer Rishi Sunak has been offering diners across the U.K. a state subsidy to eat out in an attempt to help the struggling industry.

Pret said in July that it would permanently close 30 U.K. shops and cut at least 1,000 jobs in the restructuring. The chain has 367 shops in the U.K., and the company is also discussing terms with its landlords, according to the statement. The Press Association reported the news earlier.

©2020 Bloomberg L.P.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.