By M&C Report team2010-04-23T14:13:00+01:00
JD Wetherspoon chairman Tim Martin has sold £5m worth of shares in the company.
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.
Welsh pubco and retailer SA Brains will close more than 100 managed pubs from Friday, chief executive Alistair Darby has said.
Greene King Pub Partners has announced further rent support, confirming all tied tenants in tiers 2 and 3 will receive a 90% rent concession from 2 December.
The restrictions imposed on community wet led pubs in tier 2 are “disproportionate,” “unfair,” and “wrong,” MCA’s The Conversation has heard.
Site powered by Webvision Cloud