The better the niche business was adapted to the pre-COVID realities the harder it fallen. Niche businesses such as SSP Group, operating in airports and major railway stations was hit hard by the lockdown and severe shrinking of the passenger throughput. As a result many of them are facing financial trouble. SSP Group announce the plans to cut workforce to curb the crisis.
SSP Group, which operates food stores worldwide at airports and train stations, may need to cut some 5,000 jobs at its headquarters and UK operations. The group suffers substantial losses due to the corona pandemic, which has a major impact on domestic and foreign travellers. If the recovery continues at the current level, hard action cannot be prevented.
The round of redundancies would put more than half of the British personnel from chains such as Upper Crust and Caffè Ritazza on the street. SSP employs more than 39,000 people worldwide and is also active in the United States, Europe, India and China, for example. The company serves approximately 1.5 million customers every day.
Global sales were about 95 percent lower in April and May than a year earlier. Some recovery was visible in June, especially in Europe and North America.