Brexit Impact: Le Pain Quotidien Closes Majority of UK Stores

Date:

The bakery/pastry chain Le Pain Quotidien now has a single store in the UK. Nine other stores are closed and 250 jobs cut in this country, we learned from the brand.

The closure of eight units in London and another in Oxford are the result of financial problems. “After Brexit, London has become a very difficult market, with fewer people on the streets, higher labor costs and a rigid rental market; rents represent up to 30% of our budget,” said CEO Annick Van Overstraeten.

A Pain Quotidien located in St-Pancras station remains open. The channel is not completely abandoning the UK. It wants to open new branches there in the future through a franchise model. According to the CEO, discussions are ongoing on this subject.

Le Pain Quotidien is present in fifteen countries and plans to add five more by the end of the year.

This article is originally published on trends.levif.be

Share post:

Subscribe

Electric Scooter XElectric Scooter X

Popular

More like this
Related

Exclusive: UAE, Israel, and U.S. Held Secret Talks in Abu Dhabi to Plan 18 March Gaza Strikes

Abu Dhabi – April 1, 2025 – High-level meetings...

UK Government Avoids Trade War Escalation Amid Trump’s Tariff Hike

The UK government reassured on Thursday that it does...

UK Diplomat Urges Armenia and Azerbaijan to Sign Peace Agreement

Deidre Brown, Deputy Ambassador of the United Kingdom's delegation...

British Police Solve Murder Attempt Thanks to an iPad Found in the Thames

British police successfully uncovered the details of an attempted...