Bakery chain Greggs, which has outlets in Penrith and Keswick, has reported its first loss since it went public 36 years ago.
The group said in its preliminary results for the 53 weeks ending January 2 2021, that it made a loss of £13.7m before tax in 2020, down from a profit of £108.3m in 2019.
Total sales fell 30.5 per cent to £811.3m and like-for-like sales in company-managed shops declined by 36.2 per cent.
The company said that financially 2020 was a year of two very different halves with the period to June including an extensive lockdown period, where shops were closed and it relied on financial support from a number of government-backed schemes.
In the second half of the year, the company took action to reduce this reliance and saw a “progressive strengthening of business performance, albeit materially impacted by COVID-19 restrictions, supported by the development of new digital channels.”
But the company said it remains positive for the future and has committed to opening 100 new stores this year.
