Pret a Manger’s workers threatened to strike last week after it announced plans to cut staff bonuses. Earlier this year, the company suspended its dividend payment to shareholders and warned of “material uncertainties” regarding its ability to continue as a going concern.
The company has now announced plans to expand outside major city centres in a full reverse of their long-term strategy to ‘follow the skyscrapers’. It is apparent that, as large numbers of office workers continue to work from home, they need a new plan.
The company believes that the best way to resolve the problem is to make contracts with franchisees to open up about 100 of its own outlets in more regional areas over the next 2 to 3 years. The restaurants will be run by independent operators under the Pret a Manger brand.
We’re looking to establish new partnerships with franchise partners to bring Pret to more people in towns and travel hubs across the UK, and we’re also looking at where we can open more shops which we run directly.
In some areas such as regional towns and parts of northern England, our shops are busier than they have ever been. – Spokesperson for Pret a Manger
The changes come as part of a shake-up of its business after the pandemic decimated its previous revenue model. Earlier this year, Pret and Tesco launched a pilot of Pret shops within a Tesco supermarket to evaluate the concept.
