Greggs has announced plans to close four factories with the loss of approximately 740 jobs as part of a major overhaul of its food manufacturing operations. The high street bakery chain said the proposed changes, which will be implemented over the next two-and-a-half years, will involve relocating parts of its manufacturing process.
Costs and Savings
The move is expected to cost the company around £60 million, including disruption costs and redundancy payments. However, Greggs said the plans will save it approximately £20 million across the 2028 and 2029 financial years.
Sales Growth
The announcement came as the retail business revealed that sales grew by 7.7% in the three months to September 26, compared with the same period a year earlier. Trading improved across the quarter, benefiting from product launches and “more settled weather” in August and September.
