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Starbucks records £32m loss Monday, 21st May 2012
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.