Pret A Manger has ushered one of its founders and longest-serving directors back to the company in a management shake-up as it seeks to bear down on its steep debt pile. The London-based sandwich chain has brought back Larry Billett, Pret’s former Chairman from 2003 to 2011, alongside Sinclair Beecham who co-founded the business in 1983 with Julian Metcalfe. Billett will join the board as a non-executive director while Beecham will act as an adviser. Meanwhile, Olivier Goudet, who has served as Pret’s chairman since 2018, will step down and be replaced by current board member Konrad Meyer. In a statement Meyer said: “As a final step in leaving the pandemic behind, we are implementing plans to reduce debt. “With Larry’s return to the Board, and Sinclair’s continued support, we are bringing together the brilliance of Pret’s past with the promise of Pret’s future.” Pret had racked up loans and borrowings of £698 million by the end of 2022, its latest accounts show, as pandemic closures led to steep losses at the firm. Much of the debt has been agreed using 3-month SONIA rates set by the Bank of England, which has seen the interest rates on the debt rise...