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SSP Group, the owner of the Upper Crust, says it can cut up to 5,000 jobs in its UK stores and headquarters because it is struggling with reduced passenger travel.
The company said global sales in April and May fell 95% year over year.
SSP has 580 stores across the UK, mostly at train stations and airports, but currently less than 10 are open.
The company expects to open only a fifth of its UK stores in the fall.
The UK economy has joined the list of companies that cut jobs in the worst contraction in 41 years.
“Covid-19 has an unprecedented impact on the travel industry and SSP business in all regions,” said Simon Smith, CEO of SSP Group.
“We’ve begun to show signs of early recovery in some areas and we’re starting to open units as passenger demand increases, but in the UK, recovery continues to slow.”
SSP operates in more than 30 countries, including the United States, India and China, but is only cutting jobs in the UK business.
At this time, the company typically employed about 9000 employees across the UK. Throughout the corona virus crisis, employees were enrolled in government-paid public schemes.
The company said it plans to reopen its UK store as passenger demand returns. “Actually, the number of passengers is still very low.”
Governor Smith said that if the sales improved over the summer, it would quickly reopen the UK.
In a statement, the company was convinced that its liquidity could approach about 750 meters and that it had enough funds to operate “even in the most pessimistic scenarios”.
SSP employs approximately 39,000 people in 2,800 stores worldwide. The corona virus epidemic last month revealed that some branches had “very low sales” after closing.
SSP owns several brands, including the Upper Crust Bakery, as well as the Delhi Operator Camden Food Co., which has outlets at airports and train stations, and a luxury bar chain cabin.
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