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JD Wetherspoon puts 32 pubs on the market

The pub group recently posted a warning over annual losses due to hiked wages and slow sales recovery.

Jack Peat by Jack Peat
2022-09-28 07:11
in News
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JD Wetherspoon has been forced to put 32 pubs across England on the market.

The group, which operates around 800 pubs in the UK and Ireland, said it was a “commercial decision”.

CBRE and Savills have been appointed to market the pubs, which are in town and city centre locations. More than half are located in London and the south-east.

Hiked wages

Wetherspoon warned earlier this year that it could plunge to a loss of around £30 million after raising staff wages and investing in repairs.

The group said the recovery for many pub firms had been “slower and more laborious” than expected, while the sector is also grappling with soaring costs and a pull-back in consumer spending due to rising inflation.

Wetherspoon’s latest trading update showed that like-for-like sales in the first 11 weeks of its fourth quarter to July 31 were 0.4 per cent below the same pre-pandemic period in 2019 – an improvement on the previous quarter, when they fell 4 per cent.

Sales of draught ales, lagers and ciders – previously the biggest driver of pub trade – were 8 per cent below 2019 levels, it revealed.

Staff costs were also far higher than before the pandemic, with firms across the sector having to increase wages to overcome recruitment difficulties.

“Commercial decision”

Wetherspoon spokesman Eddie Gershon said: “On occasion Wetherspoon does put some of its pubs up for sale.

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“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.”

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 of England] we believe the pubs represent an excellent opportunity for existing pub operators and new entrants”.

Wetherspoons pubs up for sale:

Barnsley – Silkstone Inn

Beaconsfield – Hope & Champion

Bexleyheath – Wrong ‘Un

Bournemouth – Christopher Creeke

Cheltenham – Bank House

Durham – Water House

Halifax – Percy Shaw

Hanham – Jolly Sailor

Harrow – Moon on the Hill

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 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

Related: UK markets have lost $500 billion since Liz Truss took charge

Tags: Wetherspoons

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