Wetherspoon expected to tumble to a loss

Pub group JD Wetherspoon has said it expects to tumble to a loss for the current financial year after reporting a decline in sales against pre-pandemic levels.

Tim Martin, chairman and founder of Wetherspoon, said: "The company continues to expect to make a loss for the year ending July 25."
Tim Martin, chairman and founder of Wetherspoon, said: "The company continues to expect to make a loss for the year ending July 25."

The company said like-for-like sales from May 17, when hospitality venues were able to reopen indoors, to July 4 declined by 14.6 per cent against the same period in 2019.

It added that 850 of its estate of 860 sites are now open, with the remaining pubs mainly at airports.

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Tim Martin, chairman and founder of Wetherspoon said: "The company continues to expect to make a loss for the year ending July 25.

"In a trading update of January 19, the company's principal 'scenario' estimated sales in the financial year starting July 26 to be in line with financial year 2019, which remains our current best estimate, on the basis that restrictions are ended, as the Government currently intends."

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James Mitchinson