The recently appointed chief executive of Greggs has announced plans to accelerate expansion of the high street bakery chain.
Ken McMeikan, who joined the company in June from his role as retail director of Sainsbury’s, told The Daily Telegraph that there were “significant opportunities” to expand the Greggs brand across the UK.
He said that he planned to focus on North West and South England and on moving into more transport hubs such as airports and train stations, as well as industrial estates where there was demand for food on the go.
The company also plans to rebrand its 163 existing Bakers Oven outlets under the Greggs name and to withdraw from its loss-making business in Belgium, which will see it closing 10 stores at a total cost of £3.5m.
McMeikan said that the company, which currently has 1,403 stores, had opened an average of 40 to 50 outlets annually and that he was looking to accelerate the rollout of the chain from 2010.
“My initial review has confirmed the strengths of the Greggs business, its employees and the many opportunities for growth,” said McMeikan.
He said that while the company would not be immune to the downturn, he was pleased with the progress of Greggs amid difficult trading conditions and believed that its value offering gave it a competitive advantage.
He added that the group had seen strong sales of a new sandwich range costing less than £1.50.
