‘It’s the end’ cry punters as Wetherspoons to close more branches with nine still at risk
WETHERSPOONS is set to pull the shutters down on two of its branches within weeks.
The Flintshire Wetherspoon branch in North Wales is due to close its doors for good on May 12 ahead of its anticipated sale to a new owner on May 13.
The pub on Holywell High Street has been on the market since September 2023.
The Wetherspoons Lord Arthur Lee in Fareham will also serve its final pint this month.
The pub is approximately 9,129 sqft and was on the market for £400,000.
Locals took to Facebook to share their shock after hearing the Fareham.
One user said: “Every time I go in there for food it’s absolutely packed, doesnt make sense.”
“Stupid idea closing,” said another.
A third user cried: “It’s the end of Fareham.”
“It will be sorely missed,” said a fourth user.
Someone else said: “That must be one of the busiest pubs.”
Wetherspoons confirmed the closures to the Sun but has declined to comment.
It comes as Wetherspoon reported a surge in sales in its half-year results, with revenue hitting almost £1billion.
For the 26 weeks ended 28 January 2024, like-for-like sales increased 9.9%, while revenue increased 8.2% to £991million.
Operating profit increased 81% £67.7m, while profit before tax surged 682% from £4.6million in the first half of 2023 to £36million.
It’s not uncommon for pub chains and retailers to open and shut sites to rebalance their books and ensure they’re trading in areas where there is enough demand.
This could involve putting branches up for sale or reducing the hours branches are open.
There are currently more than a dozen Wetherspoons branches under offer and five pubs for sale.
This means that a buyer has presented an offer that the seller is considering.
It doesn’t mean that the sale is guaranteed, and it could remain open if it doesn’t complete.
The five pubs that are up for sale are:
- The Ivor Davies, Cardiff
- Foot of the Walk, Edinburgh
- London & Rye, London
- Fleetwood, London
- The Quay, Poole
Nine Wetherspoons branches are currently under offer:
- Wrong ‘Un, Bexleyheath
- Jolly Sailor, Bristol
- The Mockbeggar Hall, Moreton
- The Alfred Herring, Palmers Green
- The Cross Keys, Pebbles
- Spa Lane Vaults, Chesterfield
- The Regent, Kirkby in Ashfield
- The Sir Daniel Arms, Swindon
- The Hain Line, St Ives
- Market Cross, Holywell
What is happening to the hospitality industry?
Many Food and drink chains have been struggling in recent months as the cost of living has led to fewer people spending on eating out.
Businesses had been struggling to bounce back after the pandemic, only to be hit with soaring energy bills and inflation.
Multiple chains have been affected, resulting in big-name brands like Wetherspoons and Frankie & Benny’s closing branches.
Some chains have not survived, Byron Burger fell into administration last year, with owners saying it would result in the loss of over 200 jobs.
Pizza giant, Papa Johns is shutting down 43 of its stores soon.
Tasty, the owner of Wildwood, said it will shut sites as part of major restructuring plans.
The brand plans to close 20 loss-making restaurants after a “challenging” start to the year.
Stonegate, has raised fears about its survival as it races to plug its debts.
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