Pret A Manger planning to open 200 shops as sales bounce back
The chain’s parent firm and co-founder are spending £100 million on the expansion plan.
After closing dozens of shops last year, Pret A Manger has revealed plans to open over 200 more shops in the UK in the next two years.
In an update, the group said the new outlets would be concentrated in more suburban and provincial areas, where footfall has performed relatively better than in city centres, as well as in transport hubs and motorway service stations.
Pret also revealed massive losses but said that sales were bouncing back as Brits returned to the office, albeit with many only part-time commuting.
It also plans to expand into new territories overseas and boost its digital footprint.
Pret's parent company JAB Holdings and co-founder Sinclair Beecham are backing the expansion with a £100 million investment, having infused £185 million previously.
The chain's announcement comes as it declared losses soaring from £24.5 million in 2019 to over £220 million last year whilst revenues plummeted by more than £400 million to just under £300 million.
Feeling the initial impact of the pandemic, Pret was forced to close 39 shops and cut 3,700 jobs in summer last year.
