Leon to Cut Jobs and Close Fast Food Restaurants as Co-Founder John Vincent Seeks to Restructure Business.
Fast food chain Leon is on the verge of a major overhaul, with co-founder John Vincent appointed as administrator after taking the business back from Asda in October for £100m. The move comes just months after Vincent warned that the brand was facing financial difficulties due to reduced demand for takeaways.
Leon's decision to close underperforming restaurants and cut jobs is seen as a bid to restore the chain's fortunes, which have been impacted by the shift towards working from home. The company's sales fell 4% in 2024, while it reported a pre-tax loss of £8.38m.
Vincent has stated that Leon will continue to focus on its core values of serving "delicious food that is convenient and healthy". However, the entrepreneur has admitted that the brand needs to adapt to changing consumer habits and reduce costs.
As part of its restructuring plan, Leon has appointed Quantuma as advisers and aims to secure a stable financial future. The company has already begun closing restaurants, including three overseas franchises, and has signed up staff to training in wing tsun to improve operational efficiency.
Vincent's decision to take back the business from Asda was seen as an attempt to restore autonomy and direction at Leon, which had struggled under the supermarket chain's ownership. The co-founder acknowledged that Asda had bigger priorities than focusing on the brand, stating "they didn't feel fitted their strategy".
Leon has committed to supporting staff affected by job losses, with a plan in place for employees to apply for new roles within the company or at rival businesses like Pret a Manger.
Fast food chain Leon is on the verge of a major overhaul, with co-founder John Vincent appointed as administrator after taking the business back from Asda in October for £100m. The move comes just months after Vincent warned that the brand was facing financial difficulties due to reduced demand for takeaways.
Leon's decision to close underperforming restaurants and cut jobs is seen as a bid to restore the chain's fortunes, which have been impacted by the shift towards working from home. The company's sales fell 4% in 2024, while it reported a pre-tax loss of £8.38m.
Vincent has stated that Leon will continue to focus on its core values of serving "delicious food that is convenient and healthy". However, the entrepreneur has admitted that the brand needs to adapt to changing consumer habits and reduce costs.
As part of its restructuring plan, Leon has appointed Quantuma as advisers and aims to secure a stable financial future. The company has already begun closing restaurants, including three overseas franchises, and has signed up staff to training in wing tsun to improve operational efficiency.
Vincent's decision to take back the business from Asda was seen as an attempt to restore autonomy and direction at Leon, which had struggled under the supermarket chain's ownership. The co-founder acknowledged that Asda had bigger priorities than focusing on the brand, stating "they didn't feel fitted their strategy".
Leon has committed to supporting staff affected by job losses, with a plan in place for employees to apply for new roles within the company or at rival businesses like Pret a Manger.