Starbucks investing £30m in new stores
Starbucks has squashed rumours of selling by announcing plans to open 100 new coffee shops across the UK.
The US coffee chain explored a potential sale in July 2022 due to the cost-of-living crisis and increased competition.
The Telegraph reported that its new stores will be a mixture of company-owned and franchised branches.
Starbucks Europe, Middle East and Africa (EMEA) president Duncan Moir said: “Whilst we are cautious about the macro-economic environment, we will continue to invest to grow the region this year.
“We plan to open over 100 new stores in the UK and 300 new stores in EMEA, to continue this growth momentum.”
Moir added Starbucks wanted to open more drive throughs and “digitally-forward smaller stores”.
Starbucks also plans to renovate 30 existing outlets in the UK.