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Manchester Evening News

Entertainment

Rachel Pugh & Milica Cosic

Wetherspoons to close pubs across the UK this year - see full list of closures

Tim Martin United Kingdom Martin Lewis Werspoons Aldi CBRE

High street chain JD Wetherspoon (more commonly known as Wetherspoons) has announced plans to close pubs across the UK, much to the disappointment of pub-goers. Wetherspoons is a go-to establishment for people looking to eat and drink on a budget, and is known for its low prices.

But now the pub chain has been forced to close several of its pubs and is selling off dozens more , confirmed CEO Tim Martin. The pub chain has suffered a huge £30million loss, and now 35 pubs up for sale are in city centres across England and Scotland.

All of the earmarked venues are being considered for sale individually, in small packages, or as a portfolio. While they are at risk of being sold off, the good news for punters is that all the pubs will remain open and continue to trade as Wetherspoon sites until they are sold, says the Mirror.

The sales are being handled by commercial property specialists CBRE and Savills. Toby Hall, senior director at CBRE, said: "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 North we believe the pubs represent an excellent opportunity for existing pub operators and new entrants."

This week, Wetherspoons' CEO Tim Martin said the chain's sales were lagging partly as a result of people choosing to drink at home.

The hospitality chain said like-for-like sales surged by nearly 18% over the last three months of 2022, when compared with the same period in 2021. However, sales still remained 2% lower than the equivalent pre-pandemic period in 2019.

Mr Martin, Wetherspoon’s chairman, told the PA news agency: “The aftermath of the pandemic and lockdown restrictions have been far more difficult than anyone thought.

“That is the picture for the whole pub and restaurant industry. People thought that after lockdown there would be a boom in people suffering from cabin fever but, instead, it has almost been the opposite situation as people have got in the habit of staying in.

“That’s the big thing that means sales are down on 2019. Things are improving now but it’s slow.”

Last year Mr Martin also slammed the UK government for its handling of Brexit, despite having been an avid campaigner for it himself.

He said: "If we pay the same VAT rates on food and drink I will personally deliver a bottle of champagne to 11 Downing Street — I may get turned away at the door.

"As I said before, 40 years ago when I started in the business, pubs had 90 per cent of the beer trade. Pre-pandemic they had 50 [per cent]. I don’t know what it is now, but it’s lower than 50 [per cent]. Grocers pay no VAT on most food, and can sell alcohol cheaply. They have found, especially now, that if they pitch beer prices very very low, and we say they do that because they have a tax advantage, it’s very good for their trade."