WETHERSPOONS has issued an update on pub closures as 27 boozers remain at risk.
It comes after The Sun revealed that the pub giant has now closed 34 boozers it put up for sale over the last 18 months.
But the Wetherspoon has today announced that it has swung back to a significant profit as higher food sales helped its post-pandemic sales recovery continue.
The company, which runs 826 pubs across the UK, saw total sales rise by 10.6% to £1.92 billion for the year to July 30.
Wetherspoon said like-for-like sales grew by 12.7% year-on-year, as it benefitted from a significant rise in food sales, which increased by 17.7%.
Tim Martin, chairman of JD Wetherspoon, said: “Wetherspoon continues to perform well.
“The company currently anticipates a reasonable outcome for the financial year, subject to our future sales performance.”
But while profits rose, Wetherspoon slightly trimmed its pub estate, as it sold, closed or terminated the leases of 31 pubs in the most recent financial year.
It said there was a £7 million cash boost after fees as a result. Wetherspoons also opened three pubs.
Three other pubs closed for good at the end of the chain’s previous financial year too.
Here’s a full list of the 34 pubs that have closed in the last 18 months:
Off the back of the positive results released today, Tim Martin, chairman of JD Wetherspoon, said: “Wetherspoon continues to perform well.
“The company currently anticipates a reasonable outcome for the financial year, subject to our future sales performance.”
But Wetherspoon has also put 27 more pubs up for sale over the last 12 months – 10 of which are under offer.
While many fans will be gutted to learn that more Spoons sites are set to disappear from the high street, new branches have been popping up across the country.
A spokesman for the chain previously told The Sun: “Wetherspoon is continuing to invest in its business and has recently reopened The Square Peg in
Birmingham and The Lord Palmerston in Southsea, after major refurbishment, costing approximately £1.5 million.
“The company is also currently redeveloping and extending pubs in Wakefield, central Cardiff and central Glasgow at a total cost of approximately £8 million.
“The company is also proceeding with plans for a number of new pubs and hotels as well as major upgrades to existing pubs involving a total investment of around £100 million.”
Wetherspoons currently has 27 pubs up for sale – 17 are still available while ten are under offer.
This means that a buyer has presented an offer that is being considered by the seller.
It doesn’t mean that the sale is guaranteed, and it could still remain open if it doesn’t complete.
The 17 Wetherspoons that are currently up for sale are:
You can see the list of ten pubs that are under offer here:
