Photo credit: Starbucks press office 

High rents and large royalty payments to its US parent company have led to losses at the UK arm of Starbucks.

The coffee chain made a loss of £32.9 million for the year to last September.

The company last made a profit in the UK in 2006.

Kris Engskov, the UK managing director, said the company is closing, or relocating, less profitable outlets in an effort to improve its bottom line.


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