Pret has raised £100m to double in size over the next five years, in an assured return from the brink of collapse.
The sandwich chain, which closed 27 shops during the pandemic, said its plans were being backed by a £100m investment from majority shareholder JAB Holding Company and Pret co-founder Sinclair Beecham.
Pano Christou, who took over as chief executive six months before the pandemic struck, said the expansion was the “next phase of Pret’s transformation plan”, which shifts the focus from “following the skyscraper” to regional and suburban locations.
Pret has 390 stores in the UK and 157 overseas, mainly in the US, Hong Kong and France.
In addition to opening more than 200 shops in Britain over the next two years, partly through franchising, it has set itself a goal of entering five new markets by the end of 2023.
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