Pret a Manger will open over 200 stores in the UK over the next two years after receiving a £100m cash injection.
The sandwich retail chain – badly hit by changes in the way it operates in the lockdown – will eventually aim to double its presence across the country in five years.
Preet fell into a pre-tax operating loss of £256.5m last year, with revenue falling 58 percent to £299m, as it was forced to close stores for months at a time.
With Covid restrictions now easing, Pratt says regional shops are now at their strongest, while sites in the City of London are taking in 72 per cent of pre-pandemic sales weekly.
The final phase of the chain’s recovery strategy will see it rapidly expand its assets using a £100m investment by owner JAB Holdings and founder Sinclair Beacham.
Prat is targeting transport hubs, motorway service stations and suburban areas as part of its expansion.
Manger’s chief executive officer, Pano Cristo, said: “We clearly kept track of the way trends have changed since the pandemic, and obviously areas like service stations are particularly busy, so we Paired with moto and motor. fuel group.
“We’re seeing a lot of property opportunities, but it’s surprisingly competitive to have the best sites, but I think landlords see us as a really strong brand and are keen to bring on Pret.”
The group has diversified its business operations since the start of the pandemic – with some 30 stores and thousands of jobs axed – seeking to reduce its reliance on city workers for business.
The chain launched Retail Coffee Products, a coffee subscription service, and expanded through distribution operators.
Credit: www.independent.co.uk /