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HomeUncategorizedStarbucks considers selling its UK stores due to increased competition

Starbucks considers selling its UK stores due to increased competition

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The company has not yet started a “formal sales process” for its business and continues to “evaluate strategic options.”

Starbucks is exploring the possibility of ending its operations in the United Kingdom due to the increased competition from rival cafeteria chains such as Pret A Manger, Tim Hortons or Costa.

According to sources with knowledge of the matter quoted this Saturday by The Times, the company has not yet started a “formal sales process” for its business in the country and continues to “evaluate strategic options”.

Although Starbucks sales in Rei In the United States have experienced an upturn thanks to the reduction of the restrictive measures due to covid-19, the financial performance of the premises owned by the company has not yet been able to recover pre-pandemic levels, something that has not happened in other markets .

In fact, the chain opened 14 new coffee shops in the country during fiscal year 2021, but was forced to close five.

In total, Starbucks oversees more than 1,000 coffee shops and employs around 4,000 people in the UK.

Based on financial report data for the fiscal year ending October 2021, the United Kingdom is the largest market for Starbucks in Europe and reported total annual revenues of 389 million dollars, so leaving the country would be a serious blow to your pocket.

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