// Starbucks is opening 100 new coffee shops as it invests £30m into the UK
// The coffee chain explored selling its UK business last July amid concerns over rising costs and increased competition from rivals
Starbucks has squashed rumours it is looking to sell its UK business after it unveiled plans to open 100 new coffee shops across the country.
The coffee chain is set to invest £30m in opening new branches over the next year and refurbishing existing locations over the next three years.
Its new stores will be a mixture of company-owned and franchised branches, The Telegraph reported.
Subscribe to Retail Gazette for free
Sign up here to get the latest news straight into your inbox each morning
Starbucks Europe, Middle East and Africa (EMEA) president Duncan Moir said: “Whilst we are cautious about the macro-economic environment, we will continue to invest to grow the region this year.
“We plan to open over 100 new stores in the UK and 300 new stores in EMEA, to continue this growth momentum.”
Moir added Starbucks wanted to open more drive throughs and “digitally-forward smaller stores”.
The coffee shop chain was understood to be exploring the sale of its UK business last summer following concerns over rocketing costs and increased competition from rivals.
Click here to sign up to Retail Gazette‘s free daily email newsletter
