Wetherspoons issues update on closure plans and three branches at risk of shutting for good
WETHERSPOONS has issued an update on its closure plans and three boozers are at risk of shutting for good.
There is some good news from the pub chain as The Sir Daniel Arms in Swindon has been taken off the market and will remain as a Wetherspoons.
However, the company said The Hain Line in St Ives, Cornwall, was sold on October 11.
But the Ivor Davies in Cardiff is still on the market while the Foot of the Walk in Leith, Edinburgh, and The Quay, in Poole, Dorset, are both now under offer.
Under offer may mean that a bid is being considered or has been accepted.
But as the sale has not been finalised the pub remains on the market.
Since July 2023, the high street pub chain has closed more than two dozen outlets.
Pubs have closed in locations across the UK, including Stafford, London, Halifax and Penarth.
Wetherspoons regularly reviews the branches it has up for sale and has often taken venues off the market to continue operating as part of the pub chain.
In its annual report published today the pub giant said the disposal of the 27 pubs it has closed gave rise to a cash inflow of £8.9million.
Wetherspoons has sold the freehold of premises it owned outright and returned others to their landlords.
The pub sites sold may reopen to welcome drinkers under their new owners.
Landlords could also find new tenants, so Wetherspoons’ departure doesn’t necessarily mean the loss of a pub for locals.
The sites closed are:
- The Saltoun Inn, Fraserburgh – sold
- Widow Frost, Mansfield – sold
- General Sir Redvers Buller, Crediton – sold
- Butler’s Bell, Stafford – sold
- Coronet, Holloway Road, London – sold
- White Hart, Todmorden – sold
- Asparagus, Battersea – sold
- Mock Beggar Hall, Moreton – sold
- Sir Norman Rae, Shipley – sold
- Lord Arthur Lee, Fareham – sold
- Market Cross, Holywell – sold
- The Cross Keys, Peebles – sold
- The Regent, Kirkby in Ashfield – sold
- An Geata Arundel, Waterford – sold
- Jolly Sailor, Hanham – sold
- Millers Well, Purley, Halifax – sold
- The London & Rye in Rushey Green, Catford – sold
- Bankers Draft, Eltham – returned to landlord
- Sir John Arderne, Newark – returned to landlord
- Night Jar, Ferndown – returned to landlord
- Moon and Bell, Loughborough – returned to landlord
- Capitol, Forest Hill – returned to landlord
- Hart and Spool, Borehamwood – returned to landlord
- Alfred Herring, Palmers Green – returned to landlord
- Tichenham Inn, Ickenham – returned to landlord
- Bears Head, Penarth – returned to landlord
Wetherspoons has also opened two new sites in the last 12 months – The Captain Flinders near Euston Station and the Star Light at Heathrow Airport, and The Grand Assembly in Marlow.
A number of sites have also been expanded including the Red Lion,
Skegness; the Talk of the Town, Paignton; the Albany Palace, Trowbridge and the Mile Castle, Newcastle.
Wetherspoons, which has around 800 pubs across the UK, continues to draw crowds with ambitions openings.
A huge new £3.5million pub opened in the countryside town of Marlow, in Buckinghamshire, on September 24.
Plus, Wetherspoon opened its first pub at a holiday park at Haven’s Primrose Valley in Filey, North Yorkshire in March.
How can I save money at Wetherspoons?
FREE refills - Buy a £1.50 tea, coffee or hot chocolate and you can get free refills. The deal is available all day, every day.
Check a map – Prices can vary from one location the next, even those close to each other.
So if you’re planning a pint at a Spoons, it’s worth popping in nearby pubs to see if you’re settling in at the cheapest.
Choose your day – Each night the pub chain runs certain food theme nights.
For instance, every Thursday night is curry club, where diners can get a main meal and a drink for a set price cheaper than usual.
Pick-up vouchers – Students can often pick up voucher books in their local near universities, which offer discounts on food and drink, so keep your eyes peeled.
Get appy – The Wetherspoons app allows you to order and pay for your drink and food from your table – but you don’t need to be in the pub to use it.
Taking full advantage of this, cheeky customers have used social media to ask their friends and family to order them drinks. The app is free to download on the App Store or Google Play.
Check the date – Every year, Spoons holds its Tax Equality Day to highlight the benefits of a permanently reduced tax bill for the pub industry.
It usually takes place in September, and last year it fell on Thursday, September 14.
As well as its 12-day Real Ale Festival every Autumn, Wetherspoons also holds a Spring Festival.
In an exclusive interview with The Sun, Wetherspoons boss Sir Tim Martin he is planning to ramp up plans to launch “Super Spoons” pubs – making existing sites even bigger.
It has recently made a big bet on giant pubs, such as its one in Ramsgate which can cater up to 1,400 punters.
And work on its “Super Spoons” in Newcastle is now underway which will include a 26-bedroom hotel and 3,000 sq ft beer garden.
Martin also exclusively revealed to The Sun that he would not be putting up prices this year in good news for drinkers.
In its annual report to for FY24 Wetherspoons reported sales of £2,036million – an increase of 5.7% on the previous year.
Like-for-like sales were up 7.6%, driven by an 8.9% increase in bar sales and a 5.6% increase in food sales.
Profit before tax saw a dramatic uptick from £42.6m in FY23 to £73.9, in FY24.
Martin has previously said he aims to have 1,000 pubs.
What is happening to the hospitality industry?
Many food and drink chains have been struggling in recent years as the cost of living has led to fewer people eating out.
Businesses had been struggling to bounce back after the pandemic, only to be hit with soaring energy bills and inflation.
Multiple chains have been affected, resulting in big-name brands like Wetherspoons and Frankie & Benny’s closing branches.
Some chains have not survived. Byron Burger fell into administration last year, with owners saying it would result in the loss of over 200 jobs.
Pizza giant Papa Johns is shutting down 43 of its stores soon.
Tasty, the owner of Wildwood, said it will shut sites as part of major restructuring plans.
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