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Starbucks Considering to Sell its UK Business after COVID-19 Pandemic Hit

Starbucks has asked its adviser Houlihan Lokey to assess interest for its operations in the United Kingdom. The coffee chain continues to evaluate strategic options for the company’s owned international operations.

A spokesperson of Starbucks said it is not in a process of formal sale for the business of the company in the United Kingdom. The United Kingdom is largest market of Starbucks in Europe, Africa, and the Middle East, and as of 2021, the company had 1,000 stores in Britain, along with 297 company-owned and 703 stores run by licences.

The total revenue of Starbucks had been 328 million pounds for the fiscal year, and Starbucks UK Coffee had repaid in full a loan of 25 million pounds from the parent company to offset losses from decreased sales during the first months of the novel corona virus pandemic.

As the coffee chain ‘Starbucks’ has experienced a rebound in the revenue after the ease of Coronavirus lockdowns in the United Kingdom, it said the financial performance of the stores owned by Starbucks had not recovered to the pre-pandemic levels. Inner city stores, travel, and office had lagged in several other locations.