Pub chain JD Wetherspoon is selling 32 pubs after previously warning that it could lose £30m due to rising staff wages and repairs.
The chain said it understands customers will be disappointed with the decision and the listed pubs will operate as Wetherspoon outlets until they are sold.
In a statement, company spokesman Eddie Gershon said: “On occasion, Wetherspoon does put some of its pubs up for sale. This is a commercial decision. We understand that customers and staff will be disappointed with it.
“The pubs will continue to operate as Wetherspoon outlets until they are sold.”
The venues are being marketed by commercial property specialists CBRE and Savills.
“The excellent mix of locations in this portfolio is rarely seen in the market. With more than half of the portfolio located in London and the south-east and other strong locations in the south-west, Midlands and the north of England we believe the pubs represent an excellent opportunity for existing pub operators and new entrants,” CBRE senior director Tony Hall said.
Paul Breen, director at Savills commented: “Following the success of our earlier marketing campaigns for JD Wetherspoon we are delighted to be launching these 32 properties to the market.
“These venues are well configured and fitted to a high standard which will make them appealing to a broad range of potential buyers.”
London sees the highest number of losses with nine pubs set to be closed – including pubs in popular locations such as Islington and Battersea. While other pubs in major towns and cities such as Southampton and Middlesbrough are also closing.
In July, the company warned of devastating losses due to hiked wages and slow sales recovery after Covid lockdowns.
Boss and founder Tim Martin said: “When Covid-19 struck in early 2020, most governments, with the exception of Sweden, abandoned their WHO-approved pandemic plans and copied China's approach by ‘locking down.’
“There have been many unintended consequences. Large numbers of people, as has been widely reported, have left the workforce, mainly through early retirement.
“Many people now work from home, rather than from offices, which has had a significant impact on transport and hospitality businesses, among other examples.
“Wetherspoon has tried to take a long-term approach to these issues, investing heavily in the workforce, in buildings, in marketing and in contracts with landlords and suppliers, which will hopefully create a solid base for future growth. The company remains cautiously optimistic about future prospects.”
Full list of pubs set to close
Barnsley – Silkstone Inn
Beaconsfield – Hope & Champion
Bexleyheath – Wrong ‘Un
Bournemouth – Christopher Creeke
Cheltenham – Bank House
Durham – Water House
Halifax – Percy Shaw
Hanham – Jolly Sailor
Hove – Cliftonville Inn
London Battersea – Asparagus
London East Ham – Miller's Well
London Eltham – Bankers Draft
London Forest Gate – Hudson Bay
London Forest Hill – Capitol
London Harrow – Moon on the Hill
London Hornsey – Toll Gate
London Holborn – Penderel's Oak
London Islington – Angel
London Palmers Green – Alfred Herring
Loughborough – Moon & Bell
Loughton – Last Post
Mansfield – Widow Frost
Middlesborough – Resolution
Purley – Foxley Hatch
Redditch – Rising Sun
Sevenoaks - Sennockian
Southampton – Admiral Sir Lucius Curtis
Stafford – Butler's Bell
Watford – Colombia Press
West Bromwich – Billiard Hall
Willenhall – Malthouse
Wirral – John Masefield
