Pub chain’s founder Tim Martin hits out at UK government’s ‘ill-thought-out regulations’
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JD Wetherspoon has slumped to a £95m annual loss as sales plunged during the coronavirus lockdown, with the pub chain’s outspoken founder renewing his criticism of the UK government’s restrictions to control the pandemic.
The chain, which reported a £95m profit in its previous financial year, said revenues slumped by 30.6% to £1.26bn as its pubs were hammered by the lockdown. The pre-tax loss includes £60m of exceptional one-off costs, including £29m Covid-related costs for stock losses, staff costs and equipment.
