The coffee chain, which operates 660 stores across the UK, has appointed KPMG to review its store estate. The chain is understood to have hired KPMG to review a range of options including rent cuts and possible store closures. Caffe Nero, which has around 5,000 employees in the UK, is owned by businessman Gerry Ford. "As part of this, we are working closely with advisors to help review our options and assist with our ongoing negotiations with landlords." Costa closed nearly all of its 2,700 UK stores for six weeks during the pandemic but had now reopened around 2,400 sites.

Source: Daily Mirror September 14, 2020 12:53 UTC