Starbucks, the world’s largest coffee chain, has started exploring options for selling its business in the United Kingdom due to the after-effects of the pandemic and increased market competitiveness.
The Company said in a statement that it is “not in a formal sale process for the company’s UK business” but is trying to “evaluate strategic options” for the sale of its business.
Starbucks has over 1,000 outlets in the UK, of which roughly 70% are franchises and the corporation controls the remainder. The coffee chain was severely impacted by the pandemic lockdowns and other coffee and food-to-go companies battling with altered consumer behaviour.
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