Sandwich and coffee specialist Pret a Manger has drafted in advisers to renegotiate rents as it adapts to the effects of the coronavirus pandemic.

Pret, which will be trading from 300 of its 400 shops by next week, aims to address rents to reflect the “new retail environment”.

Pret has brought Alvarez & Marsal and CWM on board to advise on a business transformation.

Pret chief executive Pano Christou told the BBC the business has been “radically” reshaping its model to take account of changes such as the likelihood of lower store traffic as commuters continue to work from home.

He said: “Reduced footfall, combined with high rental costs, have placed substantial pressure on our business.

“While Pret may look and feel a bit different in the short term, if we take the right steps today, we’ll make sure that Pret can thrive in the future.”

Retailers across the board have sought to address property costs as part of their efforts to survive and emerge from the health emergency. Many have held negotiations with landlords, whose traditional business model is also under threat.

Cafes, bars and restaurants have been among the businesses hardest hit by the coronavirus outbreak, and social distancing is difficult for many to manage without a significant hit to commercial performance.

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