US baked-goods chain Cinnabon is shuttering all its UK outlets, having been brought here as part of a 2020 franchise deal with EG Group, with the arrangement subsequently taken over by EG On The Move.
A spokesperson for EG On The Move says the decision was “not taken lightly”, but was part of a strategic move as the company looks to focus on its “core convenience retail business”. The firm thanks Cinnabon staff for their dedication.
EG Group had initially planned to open 150 UK Cinnabon locations within five years but around 20 operated at the chain’s peak, and just 12 outlets were trading when the deal was brought to an end by EG On The Move.
Outlets were located in EG On The Move forecourts, while Cinnabon also traded in shopping centres, supermarkets and on high streets from a mixture of kiosks, concessions and standalone stores.
While the chain is gone from the UK it maintains a presence in over 60 countries in all corners of the world including Japan, Greece, Iraq, New Zealand, Kazakhstan and Aruba. As the name suggests the bakery’s speciality is cinnamon rolls, though it is also known for its churros and frozen lemonade. Its parent company, GoTo Foods, is in turn owned by US private equity firm Roark Capital Group, which has assets worth $40bn (£30bn) under management.
EG On The Move says that the decision aligns with its wider business strategy to focus on areas where it can deliver the greatest value to its customers.
It adds: “EG On The Move remains committed to providing exceptional food and retail experiences across our 150-site network, and we will continue to invest in evolving our offerings to meet changing customer needs.”
