London – Qahwa World
Leon, the UK-based food-to-go and coffee chain, has initiated a company voluntary arrangement (CVA) as it works to shut down loss-making branches and reshape the business into a more efficient and sustainable operation.
This step follows the recent move by Co-founder John Vincent, who reacquired the brand from Asda just over a month ago.
Leon reported a pre-tax loss of £8.4 million ($11.3 million) for 2024, marking the company’s ninth consecutive year in deficit.
As part of the restructuring plan, the chain may close up to 20 underperforming outlets in an effort to reduce ongoing financial pressures. The CVA allows Leon to continue operating while arranging a structured repayment plan with creditors. Although the process is less costly than other insolvency options and keeps management in control, it is expected to lead to job cuts.
The initial phase will target branches that have been consistently unprofitable. Vincent said the process should help Leon emerge as a “leaner business” with a clearer path back to its original mission and values.
Vincent’s return to leadership has already brought significant changes. Shortly after retaking ownership of the 70-store chain, he discontinued Leon’s value-driven coffee subscription programme—ended only 18 months after its relaunch, which had aimed to attract budget-conscious customers.
Leon has not recorded a profit since 2015, and although losses were reduced by more than half in the previous year, the chain still ended 2024 with a substantial deficit.
Leon was founded in 2004 by Vincent, Henry Dimbleby, and chef Allegra McEvedy to introduce healthier fast-food options to the UK high street. However, after the brand’s sale to EG Group in 2021 and later to Asda in 2023, critics argue that its nutrition-focused identity has weakened.
In October 2025, shortly before Vincent took back control, Dimbleby—formerly a government advisor on food health—publicly criticised Asda, accusing it of undermining Leon’s concept by prioritising cheaper and saltier menu items.
During Asda’s tenure, Leon also expanded its presence in supermarkets. What began in 2019 with packaged coffee and sauces has since grown into a wide range of ready meals and frozen items such as waffle fries, burgers, and chicken nuggets—an area where some critics say the brand’s health-first approach has become less visible.
Financial advisory firm Quantuma has been appointed to manage the CVA process. Leon also announced a partnership with Pret A Manger to support employees who may face redundancy, offering opportunities for redeployment within Pret’s network.
