Starbucks: It's Not in Formal Sale Process for UK Business
Starbucks Corp is not in a formal sale process for its UK business, a company spokesperson said in a statement after The Times reported earlier on Saturday that the coffee chain is exploring a sale of the UK operations.
According to the Times report, Starbucks has not initiated a "formal sales process" of its UK business and continues to "evaluate strategic options" for its company-owned international operations.
The company faces rising costs and competition from rivals like Pret A Manger, Tim Hortons and Costa, the newspaper said.
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