Greggs shuts the door on Oven name

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Ken McMeikan, who joined Greggs from Sainsbury's in August, sees "considerable potential for further growth."

Greggs bought Bakers Oven in 1994, and now runs just under 200 stores which McMeikan feels would benefit from coming under the Greggs umbrella in terms of marketing and buying supplies. He is also closing the group's Belgian business, which has just 10 shops.

Greggs' like-for-like sales in the 25 weeks to last Saturday grew by 3.8%, pretty much in line with the 3.9% growth in the first 16 weeks.

McMeikan said: "The final out-turn for the year remains dependent on the important Christmas trading period. But as a cash-generative business with no debt, we are in a strong position to weather the downturn and exploit opportunities for future growth."