Wetherspoon slams ‘baffling’ Covid-19 restrictions as sales slump November 11, 2020 JD Wetherspoon boss Tim Martin this morning slammed “baffling” coronavirus rules, as the pub chain reported a sharp drop in sales due to tightening restrictions. The company, which also revealed it had accepted a £48.3m government-backed loan during the crisis, said sales in the 15 weeks to 8 November plunged 27.6 per cent. Sales had [...]
Wetherspoons boss Tim Martin slams lockdown measures as ‘total chaos’ after pub chain sinks to loss October 16, 2020 JD Wetherspoon shares sank more than 13 per cent this morning as the pub chain swung to a loss for the first time since 1984 during the pandemic. Chairman Tim Martin slammed recent lockdown measures as “total chaos”, after months of closures during the coronavirus crisis hammered the pub group’s sales and revenue. The results [...]
Wetherspoon to cut jobs after plunging to annual loss October 16, 2020 J D Wetherspoon (JDW) said this morning it has started a consultation process to reduce positions at its airport pubs and that it would cut 108 jobs at its head office after the pub operator plunged to an annual loss. Wetherspoon, which employed around 43,000 people at the end of its last financial year, posted [...]
High rents force three in four hospitality businesses to consider restructure or insolvency October 5, 2020 73% of London-based hospitality and leisure operators are considering a restructure or insolvency as a result of the economic impact of the ongoing pandemic. Advisory firm Cedar Dean, which surveyed 230 hospitality and leisure businesses with around 2,000 venues across the UK, found that rental obligations are currently the most pressing issue. 86% of London-based [...]
JD Wetherspoon to cut 450 jobs at airport pubs September 22, 2020 JD Wetherspoon today said it will cut roughly 450 jobs from six of its airport pubs due to the ongoing impact of the coronavirus pandemic. The job cuts will impact staff at the chain’s pubs at Gatwick, Heathrow, Stansted, Birmingham, Edinburgh and Glasgow airports. In a letter to staff, seen by PA, the budget boozer [...]
We are on the precipice of a price war, and the losers will be workers September 11, 2020 James Reed argues that nobody stands to gain from a price war in the long run – least of all Britain’s workers. Over 100m meals were claimed on the government’s Eat Out to Help Out scheme last month, but the end of the measure on 31 August has left businesses in the hospitality sector split [...]
Pub chain JD Wetherspoon to cut up to 130 head office jobs August 6, 2020 Pub chain JD Wetherspoon will cut up to 130 head office jobs due to a downturn in the pub and restaurant industry during the coronavirus pandemic. The company announced this morning that 110 to 130 head office positions are at risk of redundancy. Wetherspoon blamed the cuts on a downturn in trading, a slowdown in [...]
JD Wetherspoon toasts Christmas sales but warns on debt January 22, 2020 Pub chain JD Wetherspoon reported this morning that sales were up over the Christmas period, but warned that full-year debt will be higher than expected due to a spike in capital expenditure. The pub operator said like-for-like sales in the 12 weeks to 19 January increased 4.7 per cent, and total sales were up 4.2 [...]
Wetherspoons shareholders back Tim Martin after corporate governance row November 21, 2019 Outspoken JD Wetherspoon boss Tim Martin has emerged victorious from his clash with a proxy adviser after shareholders voted overwhelmingly in his support. More than 98 per cent of investors voted to re-elect Martin, who founded the company in 1979, as executive chairman at the budget pub chain’s annual general meeting today. Read more: Wetherspoons [...]
Wetherspoon faces backlash over Brexit campaign spending November 7, 2019 Investors have been urged to oppose JD Wetherspoon’s financial report over its failure to get shareholder approval for pro-Brexit spending. Influential shareholder advisory firm Pirc said Wetherspoon had not cleared referendum campaign spending, which included £94,856 on almost 2m pro-leave beer mats ahead of the 2016 vote. Read more: Wetherspoon’s boss Tim Martin slams elite [...]