Starbucks may leave the UK market

Coffee chain Starbucks is exploring the possibility of selling British assets. Because the company faces strong competition from new operators, The Times reports citing sources.

According to the publication, this was caused by high competition from Pret A Manger, Tim Hortons and Costa chains.

Also, Starbucks' 2021 financial report notes that there are more than 1,000 Starbucks coffee shops in the UK, employing around 4,000 people. The total revenue of the company in the country was 389 million dollars.

For information: the Starbucks brand is an American coffee distribution company and a chain of coffee shops of the same name. It was founded in 1971 in Seattle. As of 2020, Starbucks has more than 32 thousand sales points in 75 countries of the world.