The CEO of Pret A Manger warned that prices at his chains may go up due to food inflation but hasn't ruled out additional pay increases for his workers.
Pano Christou explained that he knows what it's like for workers to struggle on low wages due to his upbringing in a low-paid household. It comes after the CEO confirmed a third wage rise for his chain's staff members within a year.
He highlighted that the pay rise was fair for his workers and that he wants the business to stand out against its competitors, the Mirror reports.
Read more: From Michelin star kitchens to a village pub... chef Gary Usher's new spot is a gem
Mr Christou said: “If you pay people what they should be paid, you shouldn’t have a staff problem. I want us to pay more than the competition.” He added that he “wouldn’t be surprised” if it looked at another increase “at some point this year.
The 45-year-old continued: "It depends on inflation, whether it continues to push up.” From April 1, more than 7,800 UK shop staff will receive an extra 3 per cent pay rise - resulting in a total increase of 19 per cent in the last 12 months.
At £10.60 an hour, the lowest paid staff will receive 18p an hour above the national living wage for 23-year-olds and above. However, Pret stressed that a very small number of workers are on this rate and that "team members" will get between £11.85 and £13.15 an hour.
Meanwhile, baristas will get up to £14.10 an hour. This is alongside other staff benefits already in place such as free food and drinks on shift and a 50 per cent discount at other times.
Mr Christou, who took over in 2019 after joining the business aged 22, started work at McDonald’s when he was 16 - he only earned £2.75 an hour. The married father-of-two grew up in Tooting, South London. His dad, half Greek, half Italian, was a mini-cab driver and his mum, from Cyprus, a nurse who, at one stage, also worked as a cleaner for extra cash.
Mr Christou said: “My first job, at 14/15, was delivering mini-cabs cards through doors. I washed my father’s car every Sunday. He would pay me a pound or two, but I would probably find more change under the seats then he paid me.”
His clothes would often come from jumble sales and he struggled at school. He added: “There were gangs, though I wasn’t part of that. There were knives."
While Mr Christou's parents were disheartened that he decided to work at McDonald's instead of going to university, he said they are now "proud" of his current success. He also takes pride in the Pret Foundation - the company's charity arm which donates unsold food to homeless shelters and other charities.
Mr Christou has noticed the rise in demand through the charities it works with. He said: “Rental prices are going up so significantly, so people are spending more time in the shelters as they can’t afford the cost of living.”
Asked if more price rises are on the way, Mr Christou replied: “If we continue to see food inflation as it is, it becomes very hard for us to hold everything down.”
Pret had to axe 3,000 jobs in the pandemic to save the business. But it is growing again, with plans to open 50 stores this year, taking the total to 500. The firm has 180 shops abroad and hopes to open one in India next month.
Read next:
- 'I did not put her on fire', says husband of tragic woman who died from horrific burns
- Manchester city centre's cheapest flat that you can rent for £600 a month - and it comes fully furnished
- Inside the deserted shopping centre that was once the biggest in Europe
- What Greater Manchester's new Clean Air Zone could look like... as some motorists could still face being charged
- Five men found NOT guilty of conspiracy to murder after gang war exploded in horror attack
