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Pret a Manger scraps dividend as Covid closures hit sales

Coffee shop chain says it is still too early to know the full impact of the pandemic

Pret a Manger has ditched its dividend payment to shareholders and warned of “material uncertainties” over whether it can continue as a going concern, saying it was still too early to know the full impact of the Covid-19 pandemic on business.

Shareholders in the coffee shop chain, which permanently closed 74 outlets in the UK last year and 22 in the US, pumped in £185m of additional funding in February and put a further £100m on standby in March as its city centre outlets suffered from the absence of commuters and tourists.

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Read the original article at The Guardian

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