Summary
Fast-food chain Leon plans to open more locations in service stations, airports, and train stations while closing 20 High Street locations due to rising business costs. Leon's boss, John Vincent, highlighted financial struggles and changes in the market as reasons for the shift. The company aims to return to its mission of offering good-quality fast food at accessible prices.
Key Facts
- Leon will close 20 High Street restaurants and open more in stations and airports.
- The company has been losing £10 million per year.
- Rising business rates and overall cost increases make High Street locations less profitable.
- John Vincent, co-founder, repurchased Leon from Asda last year and has initiated a major restructuring.
- The UK government is providing a support package to help hospitality businesses with rising costs.
- Business rates relief for hospitality, introduced during Covid, will end in April.
- Airports and stations can offer higher revenue despite taking a large portion of a retailer's earnings.
- Leon intends to simplify its menu to return to its original mission of mass-market good-quality fast food.
