Pret a Manger’s decline will hurt its workers first
Maroon sandwich behemoth Pret a Manger is set to put significant numbers of its staff out of jobs, as it reckons with the way the novel coronavirus pandemic has torched both its customer base and business model. In a leaked staff meeting seen by the BBC, chief executive Pano Christou said that the “job situation” would be reviewed on the 8 July.
With offices largely remaining closed and retail only just reopening, Pret a Manger’s high footfall, high-speed, high density business model has collapsed, with takings at 15 percent of “normal” levels. At the start of June, the company hired advisers to explore rent negotiation with landlords, including linking rent paid to the amount of money the company receives directly from sales: known as “turnover rent.” Now, its 8,000 staff are facing a nervous future, one that is likely to repeat itself as restaurant reopening accelerates. Those making the decisions are most isolated from their consequences. [BBC]
And in other news...
- Restaurants in England can reopen from 4 July...
- ... But with that reopening 10 days away, many restaurateurs have questions about how.
- Just some superb ice cream for the coming heatwave.
- Cambridge restaurateur Alex Rushmer explains why he won’t reopening on 4 July. [Guardian]
- Food writing is part of politics, it is not merely political. [Tribune]
- Good tweet:
My novel, The Restaurant Critic Who Blocked Me— alicia kennedy (@aliciakennedy) June 19, 2020