Today: Wednesday, 24 April 2024 year

Starbucks plans to leave the UK market

Starbucks plans to leave the UK market

The question of selling a business in the UK is being studied by the American coffee chain Starbucks. The reason for this decision is reportedly “high competition and changing consumer preferences” due to the pandemic.

“Starbucks has reached out to consulting firm Houlihan Lokey to assist in considering potential options to buy its UK chain, which includes more than 1,000 coffee shops and about 4,000 employees,” the sources said.

At the same time, it is noted that about 300 establishments are managed directly by the parent company, the rest are controlled through a franchise.

According to the broadcaster, Starbucks attributed growing competition from Pret A Manger, Tim Hortons and Costa, as well as a number of other operators, among the main reasons for a possible exit from the British market, according to the broadcaster. In total, there are more than 25 thousand different coffee shops in the UK.