Before coronavirus hit, the UK had a thriving coffee shop culture, with around 26,000 coffee shops across the country. But by the end of March 2020 many coffee shops were closed, or only open for takeaway. Up to 92% of coffee shops are estimated to have closed at some point during the lockdown, as it was not viable, or possible, to continue on a purely takeaway basis.
Homegrown coffee chain Cafe Coffee Day (CCD)has closed down around 280 outlets in the first quarter of the current fiscal year, citing profitability issues and likely future increase in expenses, a company statement said.
Pret, which currently has 550 outlets worldwide, has decided to close 30 of its 410 UK branches and reduce staffing levels due to the “significant impact” of the outbreak on its operating costs and cashflow, the company said in the statement.
“We’ve been in China for 20 years. We realize that this is a temporary issue that we’ve got to deal with,” Johnson said on “Squawk on the Street.” “We’re doing it responsibly. We’re doing it by prioritizing the health and well-being of our Starbucks partners.”