Greggs PLC (LSE:GRG), the bakery chain, can enjoy a slice of nightlife now that its flagship site in Leicester Square is allowed to stay open until 2 am.
The high street baker had initially applied for permission to stay open from 11 pm to 5 am, a strategy many fast-food restaurants like McDonalds and Burger King employ.
However, the Met Police denied the application, claiming the plans were “half-baked” and would make the area popular for “crime and disorder”.
Greggs was readying for a court showdown as it believed the late opening would bring customers in who had worked late or were emergency service staff.
Instead, the company reached a compromise with the Westminster council, allowing the site to stay open until 2 am between Thursday and Saturday and for an hour at 11 pm between Sunday and Wednesday.
Westminster Council says the chain will be allowed to sell hot drinks but not food.
The win for Greggs comes after its trading update sent the share price down more than 2% on Tuesday.
The group reported steady sales and site growth but warned that inflationary cost pressures would persist.
There are currently 2,365 Greggs venues operating in the UK with 63 new sites opened in the first 19 weeks of 2023.