KFC to Invest £1.5bn in UK and Ireland, Creating Thousands of Jobs
Fast-food chain KFC has announced plans to invest almost £1.5bn in the UK and Ireland over the next five years, creating thousands of jobs and capitalising on the booming popularity of fried chicken. According to The Guardian, the company aims to invest £1.49bn to grow and upgrade its existing 1,000-outlet estate, with a focus on building sites and drive-through outlets in key locations.
The investment will include £466m to open 500 new restaurants in the UK and Ireland, with part of that investment also going towards upgrading more than 200 restaurants, 20% of its existing estate. As reported by The Guardian, the company estimates that the expansion and upgrade plan will create more than 7,000 new jobs in its UK and Ireland business, and across its supply chain, over the next five years.
The roles that will be created include restaurant managers, kitchen workers, customer-facing staff, and a newly created “guest experience lead role”. Rob Swain, the general manager of KFC in the UK and Ireland, said: “We’ve never seen such strong demand for freshly prepared, fried chicken as we are seeing today.” As quoted in The Guardian, Swain added that the company is “incredibly well positioned to unlock this opportunity” and that they are “doubling down on our commitment”.
The UK fried chicken market is estimated to be worth £3.1bn annually, and KFC expects it to continue to grow, with new entrants in recent years including Popeyes, Wingstop, Dave’s Hot Chicken, and Slim Chickens. According to The Guardian, KFC and its 27 franchise partners directly employ a total of 33,500 people in the UK and Ireland.
The investment is a significant boost to the UK hospitality industry, which has been facing challenges in recent times. In February, trade bodies representing the UK hospitality industry said that more than two-thirds of businesses intended to cut staff after the government’s plan to increase national insurance contributions made by employers and raising the national minimum wage. As reported by The Guardian, Kate Nicholls, the chief executive of the trade body UKHospitality, said: “Hospitality’s ability to create places where people want to live, work and invest is unrivalled. This significant announcement from KFC is proof of that and will help to drive socially productive growth, deliver economically and support employment across the UK”.
The investment will also include £583m for jobs creation and £404m to strengthen KFC’s longstanding relationships with its suppliers. As reported by The Guardian, the company said that the expansion and upgrade plan is a significant commitment to the UK and Ireland, and that they are committed to creating new jobs and opportunities for customers.
This significant investment by KFC is set to have a positive impact on the UK and Irish economies, and is a welcome boost to the hospitality industry. With thousands of jobs set to be created, it is clear that KFC is committed to its UK and Ireland business, and is well-positioned to continue to grow and expand in the region.
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