Wetherspoons bosses will shutter several pubs this month, with more locations at risk following post-pandemic sales stagnation. The chain’s bosses have already sold off 19 locations, and another 35 are on the market. Like many other businesses following the pandemic, the company is struggling to recover from a sales decline.
Sales reports from November 6, 2022, showed a decline of 1.1 percent compared to trading before the Covid pandemic.
The company announced a “commercial decision” to place several locations on the market in September 2022 following signs of a financial downturn.
Executives warned that rising staff wages and repairs had incurred additional costs, forcing them to “disappoint” staff and customers by making the move to sell 32 locations.
The number rose to 39 in the following months, and February 2023 will see 10 of those close their doors.
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Dozens more locations may soon follow in their footsteps, as Wetherspoons has a selection on the market, per its sales and lettings site.
The chain has 35 additional properties on the market via JDW Disposals.
The site is selling a “new portfolio” of pubs the company has “identified for disposal”.
Wetherspoons plans to sell the pubs “as a portfolio, in small packages, or individually” across a selection of “high quality” and “busy” locations.