Pret a Manger to open 200 more UK shops – and sees signs of recovery as workers return to offices

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Sandwich chain Pret a Manger plans to open 200 UK shops over the next two years after winning a £100m cash injection – and says people are returning to its shops as they return to Britain’s towns and cities.

New filings on Companies House show Pret’s revenues for 2020 fell by 58% to £299m as shops were shut for months during the pandemic and footfall fell as many people began working from home. It plunged to pre-tax operating loss of £256.5m for 2020.

The group axed some 30 shops and thousands of job s as the pandemic hit.

Read more: New plans to allow workers to request flexible working from day one

But the company says its city centre sites have recovered in recent weeks as some workers have returned to offices. it said regional shops were reporting their strongest ever levels of trade, with London City sites rebounding to 72% of weekly pre-pandemic sales.

Now it plans to expand its shop estate thanks to a £100m net investment by owner JAB Holdings and founder Sinclair Beecham. The Mirror is also reporting today that the chain is aiming to rehire the 3,000 workers who lost their jobs last year.

Chief executive officer Pano Christou told the PA news agency that Pret would target more transport hubs and areas outside city centres.

He said: “We are keen to open more stores in regional and suburban areas, as these have been really strong recently.

“We have obviously kept an eye on the way trends have shifted since the pandemic and obviously areas such as service stations have been particularly busy, so that it why we have linked with Moto and Motor Fuel Group.

“We are seeing lots of property opportunities but it is unsurprisingly competitive for the best sites, but I think landlords see us as a really strong brand and are keen to bring Pret in.”

The group has diversified its business operations since the start of the pandemic to ease its dependence on city centres, launching retail coffee products, a coffee subscription service and delivery options. Mr Christou said the firm was more resilient as a result of its “omni-channel” approach.

Today’s update comes days after the group announced a 5% pay rise for its cafe workers.

Mr Christou told PA that the industry-wide staff shortages have posed a “a challenge” for the business, but that it hopes investment in its pay structure could entice more new employees.

The group axed around 30 stores and thousands of jobs following the initial impact of the pandemic.