Bakers Journal

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Greggs aims to capitalize on recession to expand


January 8, 2009
By Bloomberg.com

Jan. 8, 2009 – Greggs Plc, the U.K.’s largest bakery
chain, aims to capitalize on the country’s first recession in 17
years by snapping up vacated stores so it can add new outlets, CEO Ken McMeikan said.

Jan. 8, 2009 – Greggs Plc, the U.K.’s largest bakery
chain, aims to capitalize on the country’s first recession in 17
years by snapping up vacated stores so it can add new outlets, CEO Ken McMeikan said.

“We’ve some significant opportunities to open up more
shops,” the CEO said today on a conference call with
journalists. “They have to be in the right locations. We need
to find the best sites.”

U.K. retailers will close a record number of shops this
year as higher costs and a continued spending slowdown force
companies to dispose of outlets or collapse into administration,
consulting firm Experian Plc said yesterday. | FULL STORY

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