Greggs announces plans to shut four UK factories that could cost 740 jobs

Bakery chain, whose sales are up 7.7%, says move is necessary to provide growth in ‘most cost-efficient manner’

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Greggs has announced plans to close four of its factories, in a move that could result in 740 job losses over the next two and a half years.

The bakery chain said it was consulting on the closures, which would initially cost £60m when including disruption costs and redundancy payments but then could create £20m of savings each year by 2028.