6 January 2021 • 5:34pm We have reached the nadir of the crisis. No, not a knighthood for Matthew Hancock, though it can’t be entirely ruled out given the Prime Minister’s recent form. Something much more alarming with ramifications for the entire nation: bakery chain Greggs, purveyors of mouthwatering take-away classics such as the humble sausage roll, has officially surrendered to the pandemic. With 2,000 shops closed for much of the year, the retailer is hurtling towards its first loss since joining the stock market nearly 40 years ago. Annual turnover is expected to slump by more than £300m year-on-year, pushing it £15m into the red and bringing an abrupt end to a truly incredible roll.