Rescue funds limit fast food chain Greggs’ losses
The chain was forced to make 820 redundancies (pic: Terry Murden)
Government support has enabled fast food chain Greggs to limit its expected full year loss before tax to “up to £15m” on total sales down to £811m (2019: £1,168m) which forced it to make 820 redundancies.
During the year it opened 84 shops (including 35 franchised units) and closed 56, growing the estate as at 2 January to 2,078 shops, 328 of which are franchised shops operated by partners.
Chief executive Roger Whiteside said:”With customers spending more time at home we have successfully developed our partnership with Just Eat to offer delivery services and have also seen strong sales through our longstanding partnership with Iceland, offering our products for home baking.
“We have resumed opening new shops where we see good opportunities, with those sites accessed by car performing particularly well.”