Greggs has confirmed that 56 closed stores will remain permanently shut

Greggs has confirmed plans to permanently close 56 stores after reporting its first loss in almost 40 years due to Covid.

The bakery chain has announced a pre-tax loss of £13.7million in 2020, compared to £108.3million in profit the year prior. 

Due to closures during the pandemic, sales dropped from £1.17billion to £811.3million over the past year.

The last time Greggs reported a loss was when it became a public company on the London Stock Exchange in 1984. 

A spokesperson added that store closures are part of ongoing estate maintenance and happen every year. 

They said that the company aims to open around 100 net new shops each year.

The company said it always aims to relocate workers and didn’t confirm how many would lose their jobs. 

The bakery added that its results for 2020 were slightly better than expected considering the restrictions last year.

Find your nearest Greggs here.