US EditionPublished • loading... • Updated
Hundreds of jobs at risk as LEON moves to cut unprofitable restaurants
LEON plans to close multiple loss-making restaurants and cut jobs amid a tough economy and high taxes, aiming to emerge leaner while grocery operations remain unaffected.
- On Wednesday, December 10, LEON applied for an administration order to formulate CVA proposals and announced it will close restaurants and cut jobs during a major restructure.
- Facing falling sales, LEON cited a 'challenging' economy and said changing work patterns and tax increases have strained the hospitality industry in recent years.
- Quantuma will lead efforts to formulate CVA proposals and engage landlords of LEON sites in the coming weeks while the group's grocery product business remains unaffected.
- About 1,120 staff are potentially affected across more than 70 branches, with the worst-performing of 71 stores at risk, while LEON offers a Pret A Manger application channel and redundancy payments.
- Co-Founder John Vincent vows to rebuild LEON on its founding values after reacquiring the business last month, urging Chancellor Rachel Reeves to reassess sector tax burdens.
Insights by Ground AI
29 Articles
29 Articles
Worcester News+2 Reposted by 2 other sources
Fast food restaurant's Worcestershire locations at risk of shutting
Two Leon locations at Strensham Services on the M5 are at risk of closing following the appointment of administrators
·Worcester, United Kingdom
Read Full Article
Coverage Details
Total News Sources29
Leaning Left6Leaning Right3Center10Last UpdatedBias Distribution53% Center
Bias Distribution
- 53% of the sources are Center
53% Center
L 31%
C 53%
R 16%
Factuality
To view factuality data please Upgrade to Premium
