High street bakery chain Greggs has announced plans to close four manufacturing sites, with the expected loss of around 740 jobs over the next two-and-a-half years.
Company background
Greggs has grown from a local egg-and-yeast delivery service into the UK's dominant food-on-the-go retailer, now generating over £2 billion in annual revenue. The company was founded in 1939 and opened its first shop in 1951.
Today, Greggs operates over 2,700 stores across the UK, surpassing Costa Coffee as the UK's largest branded coffee operator, and employs more than 33,000 people.
Shift in strategy
Greggs has shifted away from high streets into travel hubs such as train stations and airports, retail parks, petrol forecourts, drive-thrus, and supermarket concessions. To drive growth, Greggs extended its operating hours into the evening and partnered with platforms like Just Eat and Uber Eats for delivery, complemented by its Click + Collect app.
The company is currently working toward a long-term goal of operating 3,000 to 3,500 stores nationwide.
