Pret Takes £553m Goodwill Hit Due to Uncertainty, Costs

Pret takes £553m goodwill hit due to uncertainty, costs

UK sandwich and coffee chain Pret A Manger has booked a goodwill impairment charge of £553m, citing an uncertain global economic environment and higher employer costs in the UK.

Pret books £553m charge on UK tax hikes and global uncertainty

The chain's update includes plans to trial meal deals and confirmation that the chance of a flotation remains on the table as it eyes major expansion in the UK and US.

Pret A Manger writes down value by a third amid £525m losses

Pret A Manger has written off a third of the value it was handed after its 2018 acquisition by European investment group JAB as an uncertain UK economy puts pressure on the sandwich chain. The group made a £553m non-cash impairment to the £912m goodwill on its balance sheet created as part of the 2018 JAB deal which valued Pret at £1.5bn, according to the Financial Times. Pret attributed the write down to higher costs due to an increase in natio…

Pret Books £553m Charge On UK Tax Hikes And Global Uncertainty - Great Yorkshire Radio

The sandwich and coffee chain, which has 717 stores in 21 markets but earns the bulk of its revenues in the UK, reported an operating loss of £451.5m for 2024 despite a 10% rise in global sales to £1.2bn. It had made a £28.3m profit over the previous 12 months. Money latest: My parents’ row with P&O Cruises was resolved by audio recording Pret blamed the reverse on the non-cash charge. The retailer, majority-owned by European investment group JA…