Pret to cut almost 3,000 jobs as pandemic sets business back by a decade

Pret reported that even though recovery is “clearly underway” – sales have climbed 7% each week since July – trade at its core UK business is down 60% year on year.

Pret said weekly UK sales “are averaging around £5m – the level they were at in August 2010” when the business was much smaller.

Earlier in the summer, Pret revealed it would shut 30 branches. The latest cuts, the retailer said, reflect a “changed retail environment” that has led to shorter opening hours, lower transaction levels and financial losses. The bulk of jobs lost are in stores and 90 roles will go at central offices.

Pret chief executive Pano Christou said: “I’m gutted that we’ve had to lose so many colleagues. Although we’re now starting to see a steady but slow recovery, the pandemic has taken away almost a decade of growth at Pret.

“We’ve managed to protect many jobs by making changes to the way we run our shops and the hours we ask team members to work. I’m hopeful we’ll be able to review all these changes now that trade is improving again, and I’m encouraged by the improvements we’re seeing every week.

“We’ll soon be announcing a number of big changes to help bring Pret to more people. We’re grateful to the government for the support they’ve given our sector, and hope that support will continue as long as possible to give Pret time to adjust.”