WETHERSPOONS has announced that it’s selling off 32 pubs across the UK amid rising staff and labour costs.
The pub chain today confirmed the “commercial decision” after previously warning that it could face losses of up to £30million.
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Wetherspoons had already confirming of a total of 14 pubs since the beginning of the financial year.
And the latest news is a fresh blow for outgoing staff – who were granted a pay boost of more than £10 an hour for the first time earlier this year.
In a statement, company spokesman Eddie Gershon said: “On occasion, Wetherspoon does put some of its pubs up for sale. This is a commercial decision.
“We understand that customers and staff will be disappointed with it. The pubs will continue to operate as Wetherspoon outlets until they are sold.”
Commercial property specialists CBRE and Savills have been drafted in to market the properties which span the length and breath of the country.
London sees the highest number of casualties with nine pubs set to face the axe – including boozers in popular locations such as Islington and Battersea.
While other pubs in major towns and cities such as Southampton and Middlesbrough are also closing.
CBRE senior director Toby Hall said: “The excellent mix of locations in this portfolio is rarely seen in the market.
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“With more than half of the portfolio located in London and the south-east and other strong locations in the south-west, Midlands and the north of England we believe the pubs represent an excellent opportunity for existing pub operators and new entrants”.
FULL LIST OF PUBS SET TO CLOSE
- Barnsley – Silkstone Inn
- Beaconsfield – Hope & Champion
- Bexleyheath – Wrong ‘Un
- Bournemouth – Christopher Creeke
- Cheltenham – Bank House
- Durham – Water House
- Halifax – Percy Shaw
- Hanham – Jolly Sailor
- Harrow – Moon on the Hill
- Hove – Cliftonville Inn
- London Battersea – Asparagus
- London East Ham – Miller’s Well
- London Eltham – Bankers Draft
- London Forest Gate – Hudson Bay
- London Forest Hill – Capitol
- London Hornsey – Toll Gate
- London Holborn – Penderel’s Oak
- London Islington – Angel
- London Palmers Green – Alfred Herring
- Loughborough – Moon & Bell
- Loughton – Last Post
- Mansfield – Widow Frost
- Middlesbrough – Resolution
- Purley – Foxley Hatch
- Redditch – Rising Sun
- Sevenoaks – Sennockian
- Southampton – Admiral Sir Lucius Curtis
- Stafford – Butler’s Bell
- Watford – Colombia Press
- West Bromwich – Billiard Hall
- Willenhall – Malthouse
- Wirral – John Masefield
In May, the hospitality firm’s boss Tim Martin warned of a slew of major changes as a result of increased labour, food and energy costs.
It included various price hikes which saw Brits paying 10p more for a pint with punters in London having to pay an extra 20p.
It’s estimated that the pub chain, known for it’s cheap drinks, employs up to 43,000 people across the UK.
According to it’s websites it boasts almost 900 pubs in towns and cities across England, Scotland, Wales, Northern Ireland and the Republic of Ireland, having opened it’s first establishment in 1979.
This post first appeared on thesun.co.uk
