Wetherspoon’s to sell 39 more pubs as costs rise ‘substantially higher’

Chain bet on post-Covid bounceback in 2021 but now faces surge in expenses and interest payments

The pub chain JD Wetherspoon is planning to sell a further 39 pubs after getting rid of five sites over the past three months amid a slow recovery in trading since the pandemic shut down hospitality.

The group said it was facing “substantially higher” costs, especially for repairs to its pubs, paying staff and food. It also said it would pay an extra £10m in interest over the next year as a result of higher rates.

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​Chain bet on post-Covid bounceback in 2021 but now faces surge in expenses and interest paymentsThe pub chain JD Wetherspoon is planning to sell a further 39 pubs after getting rid of five sites over the past three months amid a slow recovery in trading since the pandemic shut down hospitality.The group said it was facing “substantially higher” costs, especially for repairs to its pubs, paying staff and food. It also said it would pay an extra £10m in interest over the next year as a result of higher rates. Continue reading…