By M&C Report team2010-04-15T18:22:00+01:00
JD Wetherspoon has released its full year results which lay bare the impact of the coronavirus on sales and profits. Sales were down 30.6% to £1,262m while it made a £34.1m pre-tax loss, down 133% on the previous year. Chairman Tim Martin slammed the government’s handling of the situation and the effect it’s having on the hospitality industry. “For the two months following reopening, it appeared that the hospitality industry, in difficult circumstances, was adapting to the new regime and was getting ‘back on its feet’, albeit in survival mode,” he said.
Wetherspoon has announced that 400-450 jobs at its airport pubs are at risk of redundancy.
Wetherspoon is to cut the price of all food and drink on Thursday 24 September as it hosts a ‘Tax Equality Day.’
News that the hospitality trade would once again be the worst loser from government restrictions over Christmas has been met with a growing sense of rebellion, as pub leaders suggested they may openly defy the rules.
Families will be able to meet two other households in private homes in a “Christmas bubble”, though this will not extend to meeting pubs and restaurants.
Nightclub operators will meet the Business Secretary this week in an attempt to secure a potential lifeline for the sector.
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