PRET a Manger is about to completely shut 30 of its retailers, placing at the least 1,000 jobs in danger.
In addition to shutting retailers, Pret may also scale back workers numbers in all its remaining shops.
Pret a Manger is to shut 30 of its excessive avenue shopsCredit score: Information Group Newspapers Ltd
The cafe chain stated it has suffered “important working losses” after closing all its UK branches on March 21.
Pret added that its restoration within the UK was “a lot slower” in comparison with different international locations the place it has shops.
On prime of store closures – which can have an effect on shops which have but to reopen -support groups may also be restructured, and a sale course of can be began for the lease of its principal help workplace in London Victoria.
Which Pret retailers are closing for good?
THE following Pret cafes will not reopen following lockdown.
- St George College Kiosk
- 421 Strand
- Heathrow Terminal 3 landside
- 109 Fleet St
- Strutton Floor
- Centre Level
- Warwick Approach
- Byward Avenue
- Southwark The Lower
- 41 Piccadilly
- Wooden St
- Excessive St Uxbridge
- 59 Excessive St Worcester
- Albert St Nottingham
- Lion Yard Cambridge
- Fargate Sheffield
- Broad St Studying
- Excessive Wycombe
- Metrocentre Gateshead
- Queensgate Centre Peterborough
- Shandwick Place Edinburgh
- East Avenue Chichester
- Glasgow Fort Buying Centre
- Gallowtree Gate Leicester
- Capitol Centre Cardiff
- Grainger Avenue Newcastle
- Chapelfield Norwich
Pret will begin a session course of with staff this week – a closing choice on job cuts will then be made after this.
It had beforehand been recommended that the cafe chain may shut up to 45 stores.
Pret has 410 retailers within the UK, 339 of which have now reopened for takeaway and supply – prospects can now additionally dine-in in a few of its bigger websites.
Final month, the corporate stated it had been dropping “tens of tens of millions of kilos every month” resulting from retailers being shut and other people working from house throughout lockdown.
The vast majority of Pret’s retailers are positioned close to workplaces and airports, which means a big chunk gross sales often comes from staff and travellers.
Companies in turmoil in 2019 and 2020
PRET A Manger is the newest in a protracted listing of companies to be going through bother. In 2019 and thus far in 2020 we have seen:
- Go Outdoors enter into administration placing 2,400 jobs in danger
- Jamie Oliver’s “Jamie’s Italian“chain go bust, alongside his Fifteen and Barbecoa eating places
- Links of London go into administration placing 350 jobs in danger
- Marks and Spencer shut 35 extra shops because it pushes ahead with plans to axe 145 retailers throughout the UK
- Dozens of Monsoon and Accessorize shops shut
- Struggling shoe store Office has stated it “may shut retailers” as a part of restructuring plans
- Fears Pizza Express could possibly be subsequent to enter administration because it “brings in emergency advisers”
- Hairdressing chain Supercutswent into administration in October 2019 – placing 1,200 jobs and 220 salons in danger
- Maternity and child retailer Mothercare collapsed into administration in November 2019 after 58 years on the excessive avenue, placing 2,500 jobs in danger
- Division retailer chain Bealeswent into administration in January 2020 with 23 retailers and 1,052 jobs in danger
- Excessive finish style model Ted Baker stated it plans to axe 160 jobs in February 2020
- Cell phone retailer Carphone Warehousestated in March 2020 that it will shut all 531 standalone shops in April
- Classic furnishing and style agency Cath Kidston stated it was closing all 60 excessive avenue shops in March 2020
- Vogue retailer Animal stated in April 2020 it was closing all 21 of its UK shops
- Division retailer chain Debenhams fell into administration for the second time in April 2020
- P&O Ferries stated in Could 2020 that it was making 1,100 staff redundant
- TUI warned in Could 2020 that 8,000 jobs could possibly be lower as a result of ongoing coronavirus disaster
- British Airways stated in Could 2020 that it nonetheless plans on urgent forward with 12,000 job cuts
- Oasis and Warehouse went into administration in Could 2020, with 1,800 workers positioned on furlough
- Shoe chain Aldo collapsed into administration in June 2020 with 5 shops completely closed
- Victoria’s Secrets plunged into administration in June 2020, placing 800 jobs in danger
- Vogue chain Quiz put its store enterprise into administration in June 2020, placing 82 shops in danger
Pret was reported to have seen gross sales drop to £3million, simply 15 per cent of what they’d often be, in line with a leaked video seen by the BBC.
In consequence, the chain was reportedly only able to pay a third of its rent after providing landlords solely a small portion of what it owes them.
The information of retailer closures comes simply days after Mr Christou warned Pret is at present in “the attention of the storm”.
In a letter to landlords seen by the Financial Times, he stated: “We really feel strongly that the Pret model has each cause to imagine it would thrive once more, however we’re at present within the eye of the storm.”
The coronavirus disaster has sparked heightened concern for the way forward for the UK excessive avenue, with a raft of main chains plunging into administration over the previous few months.
It comes as the Centre for Retail Analysis predicts that 20,000 retailers may shut for good this yr.
Outlets together with Cath Kidston and Laura Ashley have already collapsed, whereas Debenhams has additionally been compelled to name in directors for the second time in 12 months.
We have a full round-up of all of the shops and restaurants that have gone bust right here.
Pret chief government, Pano Christou stated: “It’s a tragic day for the entire Pret household, and I’m devastated that we are going to be dropping so many staff.
“However we should make these modifications to adapt to the brand new retail atmosphere.
“Our aim now could be to carry Pret to extra folks, by way of completely different channels and in new methods, enabling us to develop as soon as extra within the medium time period.”