Pret A Manger to Cut 1,000 Jobs, Close 30 Stores Due to Pandemic

(Bloomberg) --

Pret a Manger Ltd. said it will cut at least 1,000 jobs as it permanently closes 30 U.K. stores and restructures its business amid the pandemic.

The sandwich chain said although 339 of its 410 stores have now reopened, revenue has severely declined, dropping 74% year-on-year. Alongside closing 30 stores immediately it will also cut jobs in its other shops to reflect lower customer visits, rental costs and new safety measures. Jobs in its back-office support will also go.

Pret employs 8,000 people in the U.K. currently and 13,000 worldwide. In the U.K., the chain has aggressively expanded in the past few years, particularly in city center and transport hub locations, which have been the hardest hit by the lockdown and people working from home.

“We must make these changes to succeed in the new retail environment,” Chief Executive Officer Pana Christou said in the statement.

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